Daiichi Sankyo sets up unit in Turkey
Japanese drugmaker Daiichi Sankyo has established a subsidiary in Turkey. The company, to be called Daiichi Sankyo Ilac Tikaret, will be headquartered in Istanbul and will initially focus on marketing the osteoporosis drug Evista (raloxifen).
Company chief executive Reinhard Bauer said: "with this decision, we are moving closer to achieving our goal of becoming one of Europe's leading pharmaceutical companies by 2015." Over the middle term, the company intends to significantly expand its line of medications, particularly with drugs coming from its in-house research pipeline to treat cardiovascular diseases. In addition, the company is interested in acquiring products and signing licensing agreements. An IMS Health report says that Turkey will become one of the world's top 10 pharmaceutical markets by 2010, the firm noted.
The Turkish affiliate will be strategically managed from Germany, where the European headquarters of the Japanese pharmaceutical company is located. The Munich office directs subsidiaries in 10 other European countries.
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