Japan's Sankyo expanding in USA

Sankyo of Japan's US subsidiary has bought out Warner-Lambert's share ofthe Sankyo Parke-Davis joint venture, established in 1996, in a move which is designed to help "the independent development, sales and marketing of Sankyo products in the USA and will enhance the company's success in the worldwide pharmaceutical market."

Sankyo established the JV with W-L (which has since been bought by Pfizer) initially to develop and co-promote its drugs in the USA but a clause was inserted in the original deal which would let Sankyo create a stand-alone company. Joseph Pieroni, who has been named president of Sankyo Pharma, following his four years as president of the JV, said that now is the ideal time for the firm to take this milestone step to solidify its presence in the USA "and significantly enhance our prospects of global growth."

He added that, following the recent launch of the lipid-lowerer WelChol (colesevelam HCl) with partner GelTex Pharmaceuticals (Marketletter June 5, 2000), Sankyo now has "the infrastructure to capitalize on anticipated new product approvals and co-promotion opportunities." The revamped Sankyo Pharma is planning to expand the whole gamut of its activities in the USA, including clinical research, regulatory affairs, sales, marketing, manufacturing and distribution. The firm concluded by saying that the move will also significantly improve its ability to market products in partnership with other companies.