Dainippon Sumitomo Pharma establishes a Subsidiary in Singapore
Osaka, Japan, January 21 2013 - Dainippon Sumitomo Pharma Co., Ltd (DSP) (Headquarters: Osaka, Japan; President: Masayo Tada) announces the establishment of a wholly owned subsidiary in Singapore as a base of operations in Southeast Asia.
DSP is progressing its global expansion with its global strategic product, antipsychotic lurasidone hydrochloride (generic name) at the core. As a part of this effort, DSP has considered extending commercial operations for lurasidone hydrochloride to countries in Southeast Asia where growth is expected in the mid-to long term.
DSP will first promote business operations such as obtaining approval for and marketing lurasidone hydrochloride in Southeast Asia through partnerships with local companies.
Further in the future, using Singapore as a base of operations, DSP will consider successive expansion of its product lineups in Southeast Asia and additionally business expansion into neighboring countries such as Australia.
[Outline of the subsidiary]
(1) Company Name: Sunovion Pharmaceuticals Asia Pacific Pte Ltd.
(2) Representative: Koichi Tamura
(3) Location: Singapore, Republic of Singapore
(4) Date of establishment: January 2013:
(5) Capital: 100,000 Singapore dollars (approx 7.3 million yen)*
(6) Shareholders: DSP ownership 100%
(7) Fiscal Year: March 31
*Calculated: 1 Singapore Dollar = 73 yen