Otsuka (TYO:4578) unit Otsuka Pharmaceutical Factory and ICU Medical have formed a joint venture with Otsuka Pharmaceutical Factory's US subsidiary, according to a Wednesday filing on the Tokyo Stock Exchange.
Under the JV, Otsuka Pharmaceutical Factory America will own a 60% stake in the newly established company.
The venture, set to begin operations in Q2 2025, will focus on IV solutions and clinical nutrition products in North America, amid ongoing shortages.
ICU Medical will transfer its IV business to the new company.
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