Teijin Pharma Strengthens Presence in Spain's Home Healthcare Field
Teijin Pharma Limited, the core company of the Teijin Group’s pharmaceuticals and home healthcare business, announced today that it will significantly strengthen its presence in the Spanish home healthcare field as part of further expansion in the European market. Under the plan, OXIMEPLUS S.A., a Teijin group company and home healthcare equipment provider based in Andalusia, Spain, has been renamed Esteve Teijin Espana, S.A. (ETE) to better leverage the Teijin and Esteve brands. The company will add approximately 200 people to its workforce and aim for winning bids for home healthcare services in Spain’s 12 major states between now and next year.
ETE expects its strengthened presence eventually to produce a 20% market share and annual sales of 10 billion yen in the Spanish market.
Teijin Pharma entered the European market, the world's second largest for home healthcare, by establishing Esteve Teijin Healthcare S.L. (ETH) as a joint venture with Esteve, a major Spanish pharmaceutical company, in February 2009. ETH promptly acquired Esteve's 51% stake in OXIMEPLUS before turning it into a wholly owned subsidiary later in 2009.
To date, OXIMEPLUS' value-added services have been highly evaluated by regulatory agencies and healthcare professionals, as evidenced by its success in winning approximately 40% of the home healthcare bids in the state of Catalonia. Over the course of last year, the company increased its staff by approximately 100 to help fuel business expansion.
Teijin Pharma is expanding its involvement with home healthcare services in several markets around the world. In addition to commanding about 60% of the market for home oxygen therapy in Japan, the company also is growing its global operations in the markets of South Korea and the United States, as well as Europe.
About Teijin Pharma Limited Teijin Pharma Limited, the core company of Teijin Group's medical and pharmaceuticals business, focuses on three key therapeutic areas: respiratory, bone/joint, and cardiovascular/metabolic diseases. Teijin Pharma has strong marketing positions, particularly in the respiratory and bone/joint areas, with pharmaceutical products as well as a home healthcare business, including home oxygen therapy. Teijin Pharma continues to enhance its presence worldwide through in-house R&D as well as in-licensing and out-licensing activities. For more information, visit www.teijin-pharma.co.jp/english/index.html.About the Teijin Group Based in Tokyo and Osaka, Japan, Teijin is a global technology-driven group operating in five main fields: synthetic fibers (aramid fibers, carbon fibers and polyester fibers); films and plastics; pharmaceuticals and home health care; trading and retail; and IT and new products. Teijin Limited, the holding company for the Teijin Group, is listed on the Tokyo and Osaka stock exchanges. The group had consolidated sales of USD 10.5 billion (JPY 943.4 billion, USD 1=JPY 90) in fiscal 2008 and employs 19,453 people worldwide, with 169 companies around the world. Please visit www.teijin.co.jp/english.