Sankyo Pharma Inc. Release: U.S. Subsidiaries Join Together To Form Daiichi Sankyo, Inc.
Published: Apr 03, 2006
PARSIPPANY, N.J., April 3 /PRNewswire/ -- The formation of a new pharmaceutical company, Daiichi Sankyo, Inc., was announced today as Sankyo Pharma Inc., Daiichi Pharmaceutical Corporation, and Daiichi Medical Research completed their integration in the U.S. The new company is the subsidiary of the second largest pharmaceutical company in Japan, Daiichi Sankyo Co., Ltd. The U.S. organization, Daiichi Sankyo, Inc., is the first of the global company's three regions (U.S., Japan, and Europe) to merge.
Headquartered in Parsippany, New Jersey, the newly integrated company's strengths include an expanded product portfolio, global clinical research capabilities, and a promising pipeline. As part of the integration, Daiichi Sankyo will combine its two sales forces.
"This integration will build on the momentum established by Daiichi Sankyo's predecessors as we continually strive to innovate and provide new therapies for patients and physicians," said Joe Pieroni, President of Daiichi Sankyo, Inc. and former President of Sankyo Pharma Inc. "Science is at the heart of what we do -- it is maintaining this balance between discovery and drug development that will continue to drive our success in the U.S."
The company plans to launch three new products in the United States in the next three to five years, further fueling its already rapid growth. In preparation, the sales force has been reorganized into two primary care sales forces, as well as a Hospital and an Oncology sales force. The company projects the sales forces to grow significantly over the next few years to accommodate the expanded product portfolio.
As of today's announcement, the sales force now supports six products, including BENICAR(R) (olmesartan medoxomil), BENICAR(R) HCT (olmesartan medoxomil-hydrochlorothiazide), WelChol(R) (colesevelam HCl), FLOXIN(R) Otic (ofloxacin otic) solution 0.3%, and EVOXAC(R) (cevimeline HCl). In addition, the company co-promotes CAMPTOSAR(R) (irinotecan HCl injection) with Pfizer Inc. For product information, visit http://www.benicar.com, http://www.welchol.com, http://www.evoxac.com, http://www.floxinotic.com, http://www.camptosar.com.
The integrated company's pipeline promises to strengthen this portfolio, and includes the cardiovascular drug prasugrel, an oral antiplatelet agent, which the company is co-developing with Eli Lilly and is currently in Phase III development.
Parent company Daiichi Sankyo Co., Ltd., the second largest pharmaceutical company in Japan, was formed by the merger of Sankyo Co., Ltd. and Daiichi Pharmaceutical Co., Ltd. on September 28, 2005, but its U.S. subsidiaries continued to operate as separate entities.
Sankyo Co., Ltd., a pioneer in the cardiovascular disease arena, has a long history of discovering new classes of drugs, including the statin class of lipid-lowering drugs. Sankyo discovered the first statin, mevastatin, and then co-discovered lovastatin, the first statin to be marketed. Additionally, Sankyo discovered and developed pravastatin sodium (marketed in the United States by licensee Bristol Myers-Squibb).
Daiichi Pharmaceutical Co., Ltd.'s history of innovation includes discovering ofloxacin, an antibacterial agent which is now sold in 117 countries. Daiichi is currently developing a number of chemotherapeutic agents for solid tumors. Along with the marketed cancer therapy CAMPTOSAR, Daiichi's promising pipeline of chemotherapeutic agents is expected to result in important future cancer treatments.
"Daiichi Sankyo's legacy is a century of experience in bringing important discoveries to market," Pieroni said. "We will continue in the tradition of solid R&D innovations and are confident that the new company is well positioned to excel in the challenging pharmaceutical marketplace."
About Daiichi Sankyo, Inc.
Daiichi Sankyo, Inc. was established on April 3, 2006 as the U.S. subsidiary of Japanese pharmaceutical company Daiichi Sankyo Co., Ltd. The company was formed by the merger of U.S. entities Sankyo Pharma Inc., Daiichi Pharmaceutical Corporation and Daiichi Medical Research. Headquartered in Parsippany, New Jersey, the company's strategic focus is on cardiovascular diseases. Research and development of new therapies is also focused in the areas of glucose metabolic disorders, infectious diseases, cancer, immunology and bone and joint diseases. Daiichi Sankyo's portfolio includes BENICAR(R), the fastest growing angiotensin receptor blocker on the market.(1) For more information, please visit http://www.daiichisankyo-us.com.
(1) Data are representing May 2002 - February 2006 from IMS Health. National Prescription Audit, February 2006. For more information, please contact: Jo-ann Straat Julia Lamm Daiichi Sankyo, Inc. Hill & Knowlton (973) 359-2602 (212) 885-0413 firstname.lastname@example.org@hillandknowlton.comDaiichi Sankyo, Inc.
CONTACT: Jo-ann Straat of Daiichi Sankyo, Inc., +1-973-359-2602,email@example.com; or Julia Lamm of Hill & Knowlton,+1-212-885-0413, firstname.lastname@example.org