Mar. 04, 2019Corporate
Sumitomo Dainippon Pharma Expands Roles and Responsibilities of Subsidiary in Singapore and Establishes Subsidiary in Thailand
Sumitomo Dainippon Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Hiroshi Nomura hereinafter called “Sumitomo Dainippon Pharma”) announced today that in April 2019 it will expand roles and responsibilities of Sunovion Pharmaceuticals Asia Pacific Pte. Ltd. (hereinafter referred to as “SAP”), a wholly owned subsidiary in Singapore established as a base of operations in Southeast Asia*1, and rename SAP as Sumitomo Pharmaceuticals Asia Pacific Pte. Ltd. and also established Sumitomo Pharmaceuticals (Thailand) Co., Ltd. as a subsidiary of SAP in Thailand in January 2019.
Sumitomo Dainippon Pharma established SAP in Singapore in January 2013 with a view toward promoting its business in Southeast Asia, where growth was expected over the mid- to long-term. Accordingly, Sumitomo Dainippon Pharma started the local distribution and sale of atypical antipsychotic LATUDA® (generic name: lurasidone hydrochloride) in Singapore, Thailand, and Hong Kong via DKSH (Thailand) Limited and carbapenem antibiotic MERONEM® (generic name: meropenem hydrate, brand name in Japan: MEROPEN®) in five Southeast Asian countries (Vietnam, Thailand, Singapore, the Philippines, and Malaysia), as well as Hong Kong, via Zuellig Pharma.
With the purpose of maximizing the existing business, accelerating the launch of products under development, and attempting expansion into untapped markets in Southeast Asia, Sumitomo Dainippon Pharma will increase SAP’s headcount and enhance responsibilities in April 2019, thus shoring up its role as the regional headquarters in Southeast Asia. In addition, Sumitomo Dainippon Pharma established Sumitomo Pharmaceuticals (Thailand) Co., Ltd. in January 2019 in Thailand, the largest market for branded ethical drugs in the region. This new subsidiary will start providing and collecting information of LATUDA® and MERONEM® in Thailand from April 2019.
Going forward, Sumitomo Dainippon Pharma seeks sustainable growth in the Southeast Asian region by expediting the maximization of product value and solidifying the business foundations in each country in the region.
*1 Singapore, Thailand, Vietnam, Indonesia, Philippines, Malaysia, Hong Kong
|Before||After (from April 2019)|
|Company Name||Sunovion Pharmaceuticals Asia Pacific Pte. Ltd.||Sumitomo Pharmaceuticals Asia Pacific Pte. Ltd.|
|Representative||Yasushi Itakura||Yoshitaka Koketsu|
|Share capital||0.1 million Singapore dollars (approx. 8.2 million yen*2)||4.1 million Singapore dollars (approx. 330 million yen*2)|
|Number of employees||1||10|
|Functions||Market research||Regional headquarters in the Southeast Asian region|
|Ownership||Sumitomo Dainippon Pharma Co., Ltd. (100%)|
*2 1 Singapore dollar = 81 yen
|Company Name||Sumitomo Pharmaceuticals (Thailand) Co., Ltd.|
|Establishment||January 15, 2019|
|Share capital||8.0 million Thai baht (approx. 27.0 million yen*3)|
|Number of employees||10|
|Functions||Provision and collection of information on ethical drugs in Thailand (subject to change)|
|Ownership||SAP (99% or more), Sumitomo Dainippon Pharma Co., Ltd., and DSP Business Partners Co., Ltd.|
|Location||The Kingdom of Thailand|
*3 1 Thai baht = 3.4 yen