Daiichi Sankyo sets up Ireland operations
pharmafile | November 27, 2008 | News story | Sales and Marketing | Daiichi, Ireland
Japanese company Daiichi Sankyo is continuing its expansion in Europe with the launch of operations in Ireland.
The new subsidiary's headquarters are in Dublin and it will market Cardicor (bisoprolol), for the treatment of cardiac insufficiency, as well as Emcor (bisoprolol) for the treatment of hypertension and angina pectoris. The company will also sell the diabetes drug Glucophage (Metformin) as part of a co-promotion agreement with Merck Serono Ltd.
As part of this initiative, 14 of Merck Serono's cardiometabolic sales force will be transferred to Daiichi Sankyo to form its own salesforce.
"Entering the market in Ireland is an important step in our effort to expand our European presence," said Reinhard Bauer, chief executive of Daiichi Sankyo Europe.
Over the middle term, the range of products is to grow considerably, particularly in terms of cardiovascular medications emerging from the company's own research pipeline, Bauer noted.
"By setting up the Irish subsidiary and integrating the personnel of Merck Serono in Ireland, we are laying the foundation for the successful marketing of our future products in this country as well," Bauer added.
This is the third such agreement reached by Daiichi Sankyo and Merck Serono this year, with similar deals done in Germany and Turkey.
Daiichi Sankyo says its European expansion is in contrast to the job cuts in the rest of the sector, and is part of its medium-term goals for the region.
It says it aims to be one of Europe's leading pharmaceutical companies by 2015, and this strategy is designed to alter the current balance in the company's current turnover. Around 60% of consolidated turnover is currently generated in Japan, but the company wants to ensure that this shifts to 60% generated outside Japan within the period.
Last year the company expanded its central European production site in the Bavarian city of Pfaffenhofen, and earlier this year it extended its partnership with the biotech company Morphosys, located in the city of Martinsried near Munich, to develop cancer-fighting monoclonal antibodies.
In May, Daiichi Sankyo acquired U3 Pharma, another biotech company based in Martinsried.
Its biggest outlay this year was the purchase of Ranbaxy, India's largest pharmaceutical manufacturer for $4.6 billion
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