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Otsuka America Pharmaceutical, Inc. and Otsuka Pharmaceutical Development & Commercialization, Inc. Announce Restructuring


2/25/2009 7:26:41 AM

ROCKVILLE, Md. and PRINCETON, N.J., Feb. 25 /PRNewswire/ -- Otsuka America Pharmaceutical, Inc. (OAPI) and Otsuka Pharmaceutical Development & Commercialization, Inc. (OPDC) have announced restructuring initiatives as part of the North American pharmaceutical organizations' ongoing efforts to become key growth drivers for Otsuka's pharmaceutical business worldwide. The announcement follows the recent appointment of Mark Altmeyer as President and Chief Executive Officer, OAPI, and Dean R. Haubrich, Ph.D., as Chairman, OAPI Board.

The restructuring changes include the establishment of two governance committees responsible for ensuring regulatory compliance, cross-functional information sharing, reporting, CEO advisory, and the evaluation of new ideas and business proposals. Comprised of senior leadership, the Pharmaceutical Governance Committee will oversee OAPI business activities and ensure the strong governance of the company, while the Medical Device Governance Committee will oversee the medical device and diagnostics business activities for OAPI.

OAPI and OPDC are also re-aligning shared services to increase efficiencies among the organizations, including re-structuring the human resources, risk management, business technology and brand strategy groups. In support of the company's business technology re-alignment and new information technology operating model, OAPI has appointed Robert Mack to Senior Vice President, Business Technology. In this role, Mack will provide executive leadership for the vision, direction, execution and effectiveness of Otsuka's Global Information Technology functions as well as its U.S. pharmaceutical affiliates.

"Otsuka's restructuring will increase efficiencies across OAPI and OPDC, resulting in a stronger infrastructure that supports the growing needs of the organization," said Mark Altmeyer, President and CEO, OAPI. "Energizing our North American operations will not only drive growth globally, but also increase our ability to attract top talent and establish strategic partnerships -- both critical factors for our long-term success."

OPDC will continue to be led by Taro Iwamoto, Ph.D. William Carson, M.D. will remain as Senior Vice President, Global Clinical Development, Robert McQuade, Ph.D. as Senior Vice President, Global Medical & Regulatory Affairs, and Behshad Sheldon as Vice President, Global Marketing.

OAPI plans to make additional investments in strengthening its infrastructure in the coming year, including the consolidation of sales groups into four business units: Oncology, Neuroscience, Hospital, and Medical Diagnostics and Devices.

About Otsuka America Pharmaceutical, Inc.

Otsuka America Pharmaceutical, Inc. (OAPI) is a successful, innovative, fast-growing healthcare company that commercializes Otsuka-discovered and other product opportunities in North America, with a strong focus on and commitment to neuroscience, cardiovascular, oncologic, and gastrointestinal therapeutic treatments. OAPI is dedicated to improving patients' health and the quality of human life. OAPI is part of the Otsuka Pharmaceutical Group of companies.

About Otsuka Pharmaceutical Development & Commercialization, Inc.

Otsuka Pharmaceutical Development and Commercialization, Inc. is involved in conducting all phases of clinical research and development of innovative healthcare products to address unmet medical needs. OPDC is well established in the scientific community as a globally focused organization that plays a leadership role in the research and development of Otsuka's ethical healthcare products. The Company is dedicated to the improvement of the quality of human life and health of patients around the world with a strong commitment to research and development in the areas of cardiovascular, gastrointestinal, respiratory, renal and neuroscience systems, and to treat cancer and ophthalmic disorders. OPDC is part of the Otsuka Pharmaceutical Group of companies.

OAPI and OPDC are subsidiaries of Otsuka America, Inc. (OAI), which is wholly owned by Otsuka Pharmaceutical Co., Ltd. (OPC).

About Otsuka Pharmaceutical Co., Ltd. (OPC)

Founded in 1964, Otsuka Pharmaceutical Co., Ltd. is a global healthcare company with the corporate philosophy: 'Otsuka -- people creating new products for better health worldwide.' Otsuka researches, develops, manufactures and markets innovative and original products, with a focus on pharmaceutical products for the treatment of diseases and consumer products for the maintenance of everyday health. Otsuka is committed to being a corporation that creates global value, adhering to the high ethical standards required of a company involved in human health and life, maintaining a dynamic corporate culture, and working in harmony with local communities and the natural environment.

The Otsuka Pharmaceutical Group comprises 106 companies and employs approximately 33,000 people in 18 countries and regions worldwide. Otsuka and its consolidated subsidiaries earned 928.4 billion Yen (approx. US $9.2 billion) in annual revenues in fiscal 2007. For additional information, please visit www.otsuka.com.

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