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Dainippon Sumitomo Acquires Sepracor for $2.6 billion

04 Sep 09

Dainippon Sumitomo Pharma, The Japanese drugs maker, has announced its decision to acquire the U.S pharma firm, Sepracor, in a bid to widen its international range and influence. Dainippon's decision to bid for the U.S. firm represents part of the company's wider growth strategy - with expansion into U.S. markets functioning as a core objective. The company's antipsychotic drug, Lurasidone, has shown increasing global potential in recent months - particularly in the States. In purchasing Sepracor, Dainippon has also acquired around 1300 U.S. sales staff. A move that the drugs maker says will grow its foreign revenue from 8% to 40% of the total figure. Indeed, as the healthcare climate in Japan continues to deteriorate - due to falling costs and increasing competition with generic firms - many Japanese firms are looking to acquire distribution networks in the States in an effort to grow profits.

In announcing the all-cash acquisition, Dainippon President, Masayo Tada said: "Sepracor has pursued growth through development of its unique pipeline and introduction of innovative pharmaceutical products to the market, a strategy that fits perfectly with our management philosophy". Adrian Adams, President and CEO of Sepracor, also welcomed the move.

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