As consolidation pressures wrack the Japanese pharmaceutical industry some retrenchment in Japanese inlicensing has followed. (See "Roche/Chugai Blaze a Trail...But Will Anyone Follow?" Also see "Roche/Chugai Blaze a Trail...But Will Anyone Follow?" - In Vivo, 1 January, 2002. and "Merck/Banyu: A Harbinger of More Western-Japanese Deals?" IN VIVO, January 2002 and February 2003 Also see "Merck/Banyu: A Harbinger of More Western-Japanese Deals?" - In Vivo, 1 February, 2003..)
Japanese players have always been far more interested in early-stage deals, with half to two thirds of all their deals...