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August 6, 2001

Taisho and Yamanouchi
Sign Agreement to Engage in Joint Research
for New Drug Discovery

Tokyo, Japan-August 6, 2001-Taisho Pharmaceutical Co., Ltd.(President: Akira Uehara, Head Office: Toshima Ward, Tokyo) and Yamanouchi Pharmaceutical Co., Ltd. (President: Toichi Takenaka, Head Office: Chuo Ward, Tokyo) signed an agreement on August 2, 2001 that encompasses joint research in the screening of chemical compounds, synthesis of compounds, and biological evaluation, the ultimate objective of which is new drug discovery.

Under the agreement, the two companies will exchange drug discovery ideas and utilize the compound libraries of both companies to increase the chances of the creation of new compounds and speed up the drug discovery.

The agreement will enable each company to expand its new drug discovery possibilities and will contribute to medical treatment in Japan.

Initial collaborative efforts between the two companies will focus on the discovery of anti-diabetic agents. However, either company may propose new research targets of collaboration, with the commencement of research contingent upon the approval of the proposal by both companies.

Taisho is Japan's leading producer of over-the-counter (OTC) drugs, and the number two OTC drug manufacturer in the world. Taisho is currently endeavoring to strengthen its independent R&D capabilities in the field of prescription pharmaceuticals, and also aggressively pursuing tie-ups with both Japanese and overseas companies.

Yamanouchi is promoting collaboration with other pharmaceutical companies as well as bioventure companies and academia to raise the quality and speed of its R&D activities. Yamanouchi is accelerating new drug discovery research not only with its own R&D capability but also through alliances with a wide range of partners. Yamanouchi's primary objective in R&D is to create a steady stream of innovative new drugs.

Corporate Profile

Yamanouchi Pharmaceutical Co., Ltd.
Date of Establishment April, 1923
Headquarters 3-11, Nihonbashi-Honcho 2-chome, Chuo-ku, Tokyo, Japan
Consolidated Net Sales (As of March, 2001) about 457,900 million yen
Consolidated Number of Employees about 9,300
President and CEO Toichi Takenaka
Business Items Manufacture and Marketing of Pharmaceuticals, Quasi Drugs, Food, and Medical Devices.