PRINCETON, NJ--Pharmacopeia has bought the right to distribute Molecular Simulations software in Japan and other Asia Pacific countries. The $10 million deal was with Teijin, a Japanese chemical and pharmaceutical company. Teijin Molecular Simulations, owned jointly by Molecular Simulations and Teijin, was established in 1992. In 1998, Molecular Simulations became a wholly owned subsidiary of Pharmacopeia.
Joseph Mollica, chairman and CEO of Pharmacopeia, said the agreement will give his company "full control over our distribution strategy in Asia, a market that accounted for 20 percent of our total Molecular Simulations software sales in 1998."
Ryoka Systems, a subsidiary of Mitsubishi Chemical, has been appointed exclusive distributor of Molecular Simulations software in Japan.