News Releases

November 10, 2000

Establishment of Sumitomo Seiyaku Biomedical Co., Ltd.

In order to strengthen the business operation in in-vitro diagnostics, Sumitomo Pharmaceuticals Co., Ltd. and Nihon Medi-Physics Co., Ltd. have decided to merge their departments dealing with in-vitro diagnostics and establish a separate entity, Sumitomo Seiyaku Biomedical, Co., Ltd.

Sumitomo Seiyaku Biomedical will succeed to the business that has been conducted separately by the two companies and be engaged, in the research, development, manufacturing, and marketing of in-vitro diagnostics. Sumitomo Pharmaceuticals and Nihon Medi-Physics will jointly proceed with the necessary preparation for the business commencement of the new company from April next year.

In-vitro diagnostics is extremely valuable in preventive medicine as well as in accurate identification of the kind and cause of the disease and in adequate medicinal administration. Its importance will increase all the more in the future, as the advance in research, including the elucidation of gene functions, will lead to the application of results to the preparation of diagnostics. This is thus a business field of great promise and potential.

With these expectations, Sumitomo Pharmaceuticals and Nihon Medi-Physics considered it vital to expand the corporate scale for the reinforcement of the in-vitro diagnostics department. The result has been the formation of a new company, separating the said department in each of the two corporations and merging them.

For the time being, Sumitomo Seiyaku Biomedical will focus on expanding its market share in bone metabolism field; it will also endeavor, in cooperation with other companies, to develop new fields and participate in POC * examination. Through the close ties with Sumitomo Pharmaceuticals, the new company will actively conduct the development of in-vitro diagnostics, drawing on the results in genomic research and the research of new pharmaceuticals by the mother company.

* POC (Point of Care) examination: A simple and quick diagnostic evaluation system used by doctors in clinics and hospitals. There have been several systems already developed and employed, e.g., pregnancy test agents and diabetes diagnostic systems.

Sumitomo Seiyaku Biomedical Co., Ltd.
Business outline

Name of the company : Sumitomo Seiyaku Biomedical Co., Ltd.
Location of the headquarters : 2-8, Doshomachi 2-chome, Chuo-ku, Osaka City
Capital : ¥ 480 million (expected at the time of inauguration)
Shareholders : Sumitomo Pharmaceuticals Co., Ltd.
Nihon Medi-Physics Co., Ltd.
Number of employees : appx. 50
Business outline : The research, development, manufacturing, sales, import and export of diagnostics, reagents, pharmaceuticals, quasi-drugs, medical equipment, and scientific instruments for medical treatment

*Details to be elaborated later.