News Releases

April 27, 2000

Sumitomo Pharmaceuticals America Begins Operations

Established in November 1999, the new US subsidiary is responsible for supporting clinical development, licensing, strategic partnerships and additional forms of collaboration and consulting. It also engages in the gathering and analysis of pharmacoregulatory information and other industry data. The immediate focus will be the clinical development of SM-13496, an anti-schizophrenia medication, and Dops, a noradrenergic psychoneurological agent, with the goal of gaining approval from FDA at the earliest possible date. In Europe, the first chemical is in phase I clinical trials and the second in phase III.

Sumitomo Pharmaceuticals America joins with our European subsidiary, Sumitomo Pharmaceuticals UK Limited, established in London in 1997, to complete the company's three-zone global development structure comprising Japan, Europe and the USA. The new organization is expected to accelerate our future development efforts.

The New York Representative Office of Sumitomo Pharmaceuticals will close upon the completion of required procedural matters.

Corporate Information : Sumitomo Pharmaceuticals America, Ltd.
Trade name : Sumitomo Pharmaceuticals America, Ltd.
Location : 2115 Linwood Avenue, Fort Lee, NJ 07024, USA
Establishment : November 1, 1999
Commencement of operations : May 1, 2000
President : Yuzo Tarumi, Ph.D.
Capital : $300,000
Shareholders : Wholly-owned subsidiary of Sumitomo Pharmaceuticals Co., Ltd.
Line of business : The following activities related to the conduct of business by Sumitomo Pharmaceuticals in the USA:
1)  Clinical development
2) Licensing, strategic partnerships and other forms of collaboration, and consulting
3) Gathering and analysis of pharmacoregulatory information and other industry data
4) Marketing of pharmaceuticals and other products, and overseas procurement of raw materials