Eisai Completes Acquisition of MGI PHARMA

  
    
  
  
    
      Eisai Co., Ltd. (Tokyo, TSE 4523) (“Eisai”), 
      a research-based human health care (hhc) company, today announced 
      the successful completion of its acquisition of MGI PHARMA, INC. 
      (NASDAQ: MOGN) (“MGI PHARMA”) 
      for approximately $3.9 billion through a cash tender offer followed by a 
      short-form merger of its acquisition vehicle, Jaguar Acquisition Corp. (“Jaguar”), 
      with and into MGI PHARMA. As a result of this acquisition, MGI PHARMA 
      becomes a wholly-owned subsidiary of Eisai Corporation of North America.
    
    
      At the effective time of the merger, all outstanding shares of MGI 
      PHARMA common stock not validly tendered and accepted for payment in the 
      tender offer were converted into the right to receive US$41.00 per share 
      in cash (the same price paid in the tender offer), without interest and 
      subject to applicable withholding of taxes. Computershare, acting as the 
      paying agent for the merger, will mail to the remaining former 
      shareholders of MGI PHARMA materials necessary to exchange their former 
      MGI PHARMA shares for such payment. As a result of the merger, MGI 
      PHARMA shares will be delisted and cease to trade on the NASDAQ National 
      Market.
    
    
      About Eisai Co., Ltd.
    
    
      Eisai Co., Ltd. is a research-based human health care (hhc) 
      company that discovers, develops and markets products throughout the 
      world. Eisai focuses its efforts in three therapeutic areas: integrative 
      neuroscience, including neurology and psychiatric medicines; 
      gastrointestinal disorders; and integrative oncology, including 
      oncotherapy and supportive-care treatments. Through a global network of 
      research facilities, manufacturing sites and marketing affiliates, Eisai 
      actively participates in all aspects of the worldwide healthcare system.
    
    
      About Eisai Corporation of North America
    
    
      Eisai Corporation of North America is a wholly-owned subsidiary of Eisai 
      Co., Ltd. and supports the activities of its operating companies in 
      North America. These operating companies include: Eisai Research 
      Institute of Boston, Inc., a discovery operation with strong organic 
      chemistry capabilities; Morphotek, Inc., a biopharmaceutical company 
      specializing in the development of therapeutic monoclonal antibodies; 
      Eisai Medical Research Inc., a clinical development group; Eisai Inc., a 
      commercial operation with manufacturing and marketing/sales functions; 
      and Eisai Machinery U.S.A., which markets and maintains pharmaceutical 
      manufacturing machinery.