Business: Brandes withdraws Ono proposal for 130 yen per share dividend

San Diego, California, (ANTARA News/PRNewswire-AsiaNet/ - Brandes Investment Partners, L.P. ("Brandes") announces that, on May 13th, 2008, it submitted a letter to Ono Pharmaceutical Co., Ltd. (the "Company"), a pharmaceutical manufacturer based in Japan and listed on the Tokyo Stock Exchange, withdrawing the resolution (the "Resolution") submitted to the Company on April 8th, 2008.

On behalf of its investment advisory clients, Brandes currently holds in excess of 7.0 per cent of the Company's shares. This represents an ownership position built since 1997.

The Resolution had called for the Company's Board of Directors to authorize: 1) a one-time dividend of 130 yen per share of common stock (including the 90 yen per share interim dividend, the annual dividend will be 220 yen per share), payable by September 30, 2008, and 2) a share buyback program of up to 10 million shares for a maximum of 60 billion yen.

However, subsequently the Company announced a share buyback program of up to 5.5 million shares for a maximum of 30 billion yen on April 14th, and most recently, a one-time dividend increase to 112 yen per share on May 8th (including the 90 yen per share interim dividend, the annual dividend will be 202 yen per share).

Although these changes do not quite equate to the level that Brandes had been requesting in the Resolution, Brandes appreciates the initiative that the Company has taken and would like to respect this positive development with the withdrawal of the proposal.

Brandes continues to believe that the Company has significant excess capital (including cash and both long and short-term investment securities) that is generating returns well below the cost of capital. However, Brandes believes that the recent actions by the Company exhibit the acknowledgement of excess capital as well as the intent to continue to gradually reduce this through dividends and buybacks, which was what Brandes had been appealing for throughout.

The decision to withdraw the proposal was based on the belief that the recent initiatives by the Company will be the first of many steps that it will take to improve shareholder returns. Brandes requests that the Company continues to improve capital efficiency by reducing excess capital through its deployment in higher return projects and/or via dividends and share buybacks.

Brandes believes that the completion of the announced buyback plan as well as the cancellation of all treasury shares acquired through the plan is very important. As a long term shareholder on behalf of its investment advisory clients, Brandes plans to monitor the progress that the Company makes and hopes to work constructively with the Company for the benefit of all stakeholders.

Brandes is a U.S. registered investment advisor. Located at 11988 El Camino Real, Suite 500, San Diego, California, 92130. Brandes managed approximately US$93.4 billion on behalf of institutional and individual investors, as of March 31st, 2008.

The above information is based on the following conditions.

Please understand fully. This press release is not intended to advocate the purchase or sale of the Company's stock. This press release is based on information currently available as of the date of this announcement. Brandes has acted in full caution and on best effort, but cannot guarantee that the information is correct. This press release is not intended to influence the share price of the Company.

SOURCE: Brandes Investment Partners, L.P.
CONTACT: Ray Lewis of Brandes Investment Partners, L.P.,
+1-858-523-3588, PublicRelations@brandes.com

COPYRIGHT © 2008

Health/Medical: Global Health Progress initiative launched in Washington

Washington, (ANTARA News/PRNewswire-AsiaNet) - Industry supports hundreds of programs helping millions in the developing world and is looking for new partners.

The worldwide pharmaceutical industry today launched Global Health Progress, an initiative to bring research-based biopharmaceutical companies, global health leaders and policymakers together to build on current partnerships to improve health in the developing world.

Serving as a convening point for the industry and its partners, Global Health Progress will facilitate interaction between the private sector, NGOs and governments to share research and best practices; raise awareness of global health challenges; and build partnerships to improve global health.

"Research-based biopharmaceutical companies contribute hugely to health partnerships for the developing world, through their unique expertise in R&D, regulatory affairs, manufacturing, logistics and many other fields, but we cant work alone," said Dr. Harvey Bale, Director General of IFPMA.

"The Global Health Progress initiative should help to expand the range and scope of global health partnerships supported by our industry."

Global Health Progress today unveiled its web site, www.globalhealthprogress.org, which houses a database of research-based biopharmaceutical companies global health programs, including information on more than 300 partners, 400 programs and ongoing investments of billions of dollars annually in products and man-hours.

Featuring stories of health workers on the ground, the site highlights organizations and individuals who are making a difference in global health.

"Research-based biopharmaceutical companies have a longstanding commitment to improving global health this initiative is a recognition of our unique role and desire to accelerate progress in fighting disease and strengthening health care systems in developing countries," said Billy Tauzin, President and CEO of PhRMA.

"As individual companies and a united industry, we recognize that our efforts to address universal health challenges are best realized through partnerships with governments and NGOs that are dedicated to saving lives throughout the world."

Global Health Progress will leverage strengths in private industry to form new partnerships to further access to medicines; build capacity of health workers in developing nations; advocate for global action to address health challenges; and continue R&D to develop new tools to fight diseases that plague the developing world.

"Global Health Progress is a groundbreaking initiative to focus the expertise of the pharmaceutical industry to work with a diverse array of partners to create lasting, sustainable global health change," said Brian Ager, Director General of EFPIA.

"We recognize that global health challenges are complex and we want to contribute our experience and resources to developing new solutions."

About Global Health Progress

The Global Health Progress initiative brings research-based biopharmaceutical companies and global health leaders together to improve health in the developing world.

Through meaningful public-private partnerships with others in the field, including policymakers in the developed and developing world, multi-lateral institutions, non-governmental organizations, and academia, we can help shape sustainable solutions that improve the health of all people.

The European Federation of Pharmaceutical Industries and Associations (EFPIA) represents the pharmaceutical industry operating in Europe.

Through its direct membership of 32 national associations and 43 leading pharmaceutical companies, EFPIA is the voice on the EU scene of 2,100 companies committed to researching, developing and bringing to patients new medicines that improve health and the quality of life around the world.

EPFIA Internet Address: www.efpia.eu

The International Federation of Pharmaceutical Manufacturers & Associations (IFPMA) is the global non-profit NGO representing the research-based pharmaceutical, biotech and vaccine sectors.

Its members comprise 25 leading international companies and 45 national and regional industry associations covering developed and developing countries.

IFPMA Internet Address: www.ifpma.org

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the countrys leading pharmaceutical research and biotechnology companies, which are devoted to inventing medicines that allow patients to live longer, healthier, and more productive lives.

PhRMA companies are leading the way in the search for new cures. PhRMA members alone invested an estimated $44.5 billion in 2007 in discovering and developing new medicines.

Industry-wide research and investment reached a record $58.82 billion in 2007.

PhRMA Internet Address: www.phrma.org
PhRMA en Espaol: www.nuestraphrma.org

SOURCE: Global Health Progress
CONTACT: Chantal Porges of EFPIA,
newsroom@efpia.org,
+32-2-626-25-71,
Guy Willis of IFPMA,
g.willis@ifpma.org,
+41-22-338-32-00,
+41-22-338-32-99 (fax),
Mark Grayson of PhRMA,
mgrayson@phrma.org,
+1-202-835-3465
Web site: http://www.efpia.eu,
http://www.ifpma.org,
http://www.phrma.org,
http://www.nuestraphrma.org,
http://www.globalhealthprogress.org/

COPYRIGHT © 2008

Business: Brandes proposes 130 yen per share dividend for Ono Pharma GM

Brandes Proposes 130 yen per Share Dividend and 10 Million Share Buyback Program for Ono Pharmaceutical Annual Meeting

San Diego (ANTARA News/PRNewswire-AsiaNet) - Brandes Investment Partners, L.P. ("Brandes") announces that, on April 8th, 2008, it submitted to Ono Pharmaceutical Co., Ltd. (the "Company"), a pharmaceutical manufacturer based in Japan and listed on the Tokyo Stock Exchange, a resolution (the "Resolution") to be submitted for shareholder approval at the Company's upcoming annual meeting of shareholders.

On behalf of its investment advisory clients, Brandes currently holds in excess of 7.0 per cent of the Company's shares. This represents an ownership position built since 1997.

The Resolution calls for the Company's Board of Directors to authorize:
1) a one-time dividend of 130 yen per share of common stock (including the interim dividend of 90 yen per share, the annual dividend, if approved, shall be 220 yen per share), payable by September 30, 2008, and 2) a share buyback program of up to 10 million shares for a maximum of 60 billion yen.

Brandes believes that the Company should cancel all shares upon repurchase. A copy of Brandes' letter to the Company and the Resolution are available at the Brandes website at http://www.brandes.com/Inv/PressReviews.htm.

Brandes believes that the Company continues to retain unnecessarily large amounts of low-yielding cash and marketable securities on its balance sheet, a majority of which appears to be unrelated to the Company's operations as a pharmaceutical company.

The Company's recent actions of increasing dividends and repurchasing shares are encouraging, and the 5.5 million buyback program (for up to 30 billion yen) announced on April 14th following our submission of the Resolution to the Company, is a significant step in the right direction.

However, Brandes believes more can and should be done in order to improve the capital efficiency of the Company. After execution of the proposed dividend and share buyback program, the Company's level of financial assets still would be more than sufficient, in Brandes' estimation, to support the Company's pursuit of business-enhancing opportunities. For more details on the rationale for the proposals, please see the attached shareholder proposal excerpt for reference.

Brandes is a U.S. registered investment advisor. Located at 11988 El Camino Real, Suite 500, San Diego, California, 92130, Brandes managed approximately US$93.4 billion on behalf of institutional and individual investors, as of March 31, 2008.

Direct excerpt from Shareholder Proposal (III) Reasons These proposals reflect the belief that the Company should maintain a balance sheet that is consistent with its core business as a pharmaceutical company, and that capital well in excess of such needs should be returned to its shareholders.

Firstly, by increasing the total annual dividend to 220 yen per share (including the interim dividend of 90 yen per share), we expect the Company to continue to increase the payout ratio and prevent further accumulation of cash in the future.

As of December 31, 2007, 73 per cent of the Company's total assets or approximately 350.8 billion yen was comprised of cash, marketable securities and investment securities including cross-shareholdings (hereafter referred to as "Financial Assets"), the majority of which is unrelated to the Company's operations as a pharmaceutical company. The magnitude of Financial Assets held goes well beyond what it legitimately needs in order to fund its operations as a pharmaceutical company, and is well in excess of the industry average of 45 per cent, which has also been criticized as excessive.

In addition, the return that the Company earns on its Financial Assets is less than 1 per cent on an annualized basis, well below its estimated cost of capital and exhibits no improvements.

Secondly, the share buyback proposal aims for the reduction of excess capital and it is intended for the Company to cancel all shares upon repurchase. In addition, the 10 million share buyback program would signal the strong faith that the Company has in its underlying businesses, and would also be accretive to all shareholders.

With regard to the above-mentioned issues, the Company has failed to explain to shareholders, including in its 'Midterm Policy on Return to Shareholders', a 'justifiable amount' or 'return parameters' for the excess capital it may use for future acquisitions of assets, including R&D pipeline products.
We believe that any such acquisitions, if economically justified, could be financed through capital markets at such time the potential acquisitions arise. Maintaining significant excess Financial Assets to provide for potential future acquisitions is not in the interest of shareholders.

The proposals, if approved, would result in a return to shareholders of approximately 74.7 billion yen, which would reduce the Company's total Financial Assets to approximately 276 billion yen.

Following the execution of the proposed dividend and share buybacks, approximately 68 per cent of the Company's total assets would still consist of Financial Assets, a ratio that is more than sufficient to support its operations while still allowing for it to pursue growth opportunities.

The above information is based on the following conditions.
Please understand fully.
This press release is not intended to advocate the purchase or sale of the Company's stock. Also, the press release is not based on the intentions that Brandes, its related parties and other 3rd parties solicit proxies for the Company's Annual General Meeting ("AGM").

This press release and the Resolution are based on information currently available as of the date of this announcement. Brandes has acted in full caution and on best effort, but cannot guarantee that the information is correct.
In addition, the Resolution does not guarantee a specific outcome for the votes at the AGM. Brandes may, depending on the situation, change or revoke the Resolution.

This press release is not intended to influence the share price of the Company. Brandes does not guarantee any reaction by the market in regards to the Resolution or the Company's response to the Resolution. This Resolution is intended to propose an idea to the shareholders of the Company at the upcoming AGM, and this press release is solely intended to explain the background and rationale for submitting the
Resolution.

SOURCE: Brandes Investment Partners, L.P.
CONTACT: Ray Lewis of Brandes Investment Partners, L.P., +1-858-523-3588, PublicRelations@brandes.com
Web site: http://www.brandes.com

COPYRIGHT © 2008