Shionogi Establishes a Developmental Subsidiary in EU
Osaka, Japan, January 30, 2012 - Shionogi & Co., Ltd. (Head Office: Osaka; President & CEO: Isao Teshirogi, Ph.D.; hereafter “Shionogi”) today announced it has decided to establish its 100%owned subsidiary “Shionogi Limited” in London, United Kingdom as a development foothold in EU.
Shionogi has accelerated global development under the goals “globally develop at least 5 late stage (Phase IIb and beyond) products, submit NDAs overseas for 4 products (originate from Shionogi or Japanese research institutions) and launch at least one product by FY2014” during the 3rd Medium-term Business Plan. Establishment of the subsidiary aims to prepare a development foothold in EU in addition to Japan and United States to enable more efficient and rapid development by selecting the best region globally depending on stages of clinical trials.
Shionogi continues to provide innovative drugs to patients worldwide by developing its pipelines globally in 3 regions, Japan, United States and EU.
?Overview of Shionogi Limited?
1?Name: Shionogi Limited
2?Location: London, United Kingdom
3?Capital: 700 thousand pounds
4?Representative: Takashi Takenoshita (CEO)
5?Business: Drug development
This announcement contains forward-looking statements. These statements are based on expectations in light of the information currently available, assumptions that are subject to risks and uncertainties which could cause actual results to differ materially from these statements. Risks and uncertainties include general domestic and international economic conditions such as general industry and market conditions, and changes of interest rate and currency exchange rate. These risks and uncertainties particularly apply with respect to product-related forward-looking statements. Product risks and uncertainties include, but are notlimited to, completion and discontinuation of clinical trials; obtaining regulatory approvals; claims and concerns about product safety and efficacy; technological advances; adverse outcome of important litigation; domestic and foreign healthcare reforms and changes of laws and regulations. Also for existing products, there are manufacturing and marketing risks, which include, but are not limited to, inability to build production capacity to meet demand, unavailability of raw materials and entry of competitive products.
The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
For further information, contact:
Corporate Communications Department
Shionogi & Co., Ltd.
Posted: January 2012