27 January 2013

Japan's Dainippon Sumitomo Pharma establishes subsidiary in Singapore

Osaka, Japan – 21 January 2013 – Osaka-headquartered Dainippon Sumitomo Pharma Co., Ltd (DSP) announced 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. 

The Singapore subsidiary Sunovion Pharmaceuticals Asia Pacific Pte Ltd. will be 100% owned by DSP and will have a capital of approx. 7.3 million yen

Source: DSP