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Daiichi Sankyo

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Daiichi Sankyo Company, Limited
Company typePublic KK
TYO: 4568
TOPIX 100 Component
Nikkei 225 Component
Nasdaq: DSNKY
IndustryPharmaceutical
Predecessor
  • Daiichi Pharmaceutical Company
  • Sankyo Company
FoundedTokyo, Japan (2005) (by merger)
HeadquartersDaiichi Sankyo Building A/B 3-5-1, Nihonbashi-honcho, Chūō-ku, Tokyo 103-8426, Japan
Key people
Joji Nakayama, (CEO and President)
Products
RevenueIncrease $ 12.006 billion USD (FY 2012) (¥ 997.852 billion JPY) (FY 2012)
Increase $ 0.801 billion USD (FY 2012) (¥ 66.621 billion JPY) (FY 2012)
Number of employees
32,229 (as of December 2013)
Websitehttp://www.daiichisankyo.com
Footnotes / references
[1][2]

Daiichi Sankyo Company, Limited (第一三共株式会社, Daiichi Sankyō Kabushiki-kaisha) is a global pharmaceutical company and the second largest pharmaceutical company in Japan. It achieved JPY 1,148.2 billion in revenue in 2013. The company owns the American biotechnology company Plexxikon, the German biotechnology company U3 Pharma and recently sold Ranbaxy Laboratories in India. Daiichi Sankyo Co., Ltd. is the producer of Benicar (Olmesartan), an angiotensin II receptor antagonist and top selling drug in the U.S. Global sales of Olmesartan in 2013 were 300.2 billion yen.

Daiichi Sankyo, Inc. (DSI) began operating in the U.S. in 2006. It is the U.S. subsidiary of Daiichi Sankyo, Company, Limited and a member of the Daiichi Sankyo Group. The organization, which includes U.S. commercial operations and global clinical development (Daiichi Sankyo Pharma Development), is headquartered in Parsippany, New Jersey.

Daiichi Sankyo Europe, GmbH (DSE), the European subsidiary, is headquartered in Munich, Germany. The organization is responsible for development and manufacturing for 12 European countries.

Daiichi Sankyo Company, Limited is a full member of the European Federation of Pharmaceutical Industries and Associations (EFPIA) and of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA).

In 2009, the highly respected magazine R&D Direction honoured Daiichi Sankyo with its "Best Cardiovascular Pipeline Award".

History

Daiichi Sankyo was established in 2005 through the merger of Sankyo Company, Limited (三共株式会社, Sankyō Kabushiki Kaisha) and Daiichi Pharmaceutical Company, Limited (第一製薬株式会社, Daiichi Seiyaku Kabushiki Kaisha), which were century-old pharmaceutical companies based in Japan. Sankyo Co., Ltd. was founded by Dr. Jokichi Takamine, who patented the isolation of adrenalin.[3][4] Takamine was also the first president of Sankyo Co., Ltd from March 1913 – July 1922.[5]

Kickbacks

Daiichi Sankyo is being "closely monitored" after settling charges concerning payment of remuneration to physicians in the form of speaker fees as part of company's Physician Organization and Discussion program, in violation of the False Claims Act, an anti-kickback statute.[6]

Daiichi Sankyo agreed to pay the United States and state Medicaid programs $39 million to settle allegations by the United States Department of Justice over kickbacks to doctors.[6] As part of the company's Physician Organization and Discussion program, Daiichi Sankyo paid physicians improper kickbacks in the form of speaker fees to induce physicians to prescribe Daiichi drugs, including Azor, Benicar, Tribenzor and Welchol.[6] Allegedly, payments were made to physicians even when physician participants in PODs took turns “speaking” on duplicative topics over Daiichi-paid dinners, the recipient spoke only to members of his or her own staff in his or her own office, or the associated dinner was so lavish that its cost exceeded Daiichi’s own internal cost limitation of $140 per person.[6]

“Schemes such as this are particularly abhorrent,” said Inspector General Daniel R. Levinson for the U.S. Department of Health and Human Services.[6] “Manufacturers and physicians who engage in them are cheating Medicare and Medicaid out of millions of dollars and threatening programs upon which many elderly and disabled Americans rely. My office will take whatever steps necessary to guard against improper alliances between manufacturers of drugs and those who prescribe them. Through our corporate integrity agreement we will be closely monitoring Daiichi.”[6]

Acquisitions

In 2006, Daiichi Sankyo acquired Zepharma, the OTC drugs unit of Astellas Pharma.

On June 10, 2008, Daiichi Sankyo agreed to take a majority (64%) stake in Indian generic drug maker Ranbaxy, with a deal valued at about $4.6 billion.[7][8]

In June 2008, Daiichi Sankyo acquired U3 Pharma, which would contribute a therapeutic anti-HER3 antibody to the company's anticancer portfolio.[9]

On April 4, 2011 Daiichi Sankyo completed the acquisition of Plexxikon, a Berkeley, California-based pharmaceutical start-up company for $805 million and an additional $130 million in milestone payments, pending on the success of Vemurafenib (Plexxikon’s lead program) an oral, novel drug that targets the oncogenic BRAF mutation present in about half of melanoma cancers and about eight percent of all solid tumors. Daiichi Sankyo is retaining US co-promotion right of the (Roche licensed) drug. [10]

On April 7, 2014, Daiichi Sankyo announced that it has agreed to vote its shares in Ranbaxy in favor of Sun Pharma’s acquisition of 100% of Ranbaxy through the merger process which entails a share swap. The transaction is set to close in December 2014, pending shareholder, court and regulatory approvals and other customary conditions.

On September 29, 2014, Daiichi agreed to acquire Ambit Biosciences for approximately $410 million, the deal enabled Daiichi to gain the Phase III cancer compound quizartinib.[11]

On April 20, 2015, the company announced it had sold off the 8.9% stake in Sun Pharmaceutical Industries it acquired when acquiring Ranbaxy, raising $3.2 billion.[12]

The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):

Daiichi Sankyo
Daiichi Sankyo

Sankyo Company, Limited

Daiichi Pharmaceutical Company, Limited

Zepharma
(Acq 2006)

U3 Pharma
(Acq 2008)

Plexxikon
(Acq 2011)

Ambit Biosciences
(Acq 2014)

Products of Daiichi Sankyo Group

Sankyo

Daiichi Pharmaceutical

Pipeline candidates

Select mid-stage and late-stage investigational candidates in Daiichi-Sankyo's pipeline include:

  • ARQ 197 (Tivantinib) — Oncology
  • DS-5565 (Mirogabalin) — Chronic pain
  • PLX4032 (Vemurafenib) — Oncology
  • SUN13837 — Spinal cord injury

References

  1. ^ "Daiichi Sankyo Financial Summary". Retrieved March 7, 2014.
  2. ^ "Daiichi Sankyo 2012 Annual Financial Report" (PDF). Retrieved March 7, 2014.
  3. ^ Bennett, Joan. "The Time Line: Adrenalin and cherry trees". pubs.acs.org. Retrieved 24 January 2016.
  4. ^ Kawakami, K. K. (1928). Jokichi Takamine: A Record of his American Achievements. New York: William Edwin Rudge.
  5. ^ "13th Takamine Memorial Daiichi Sankyo Prize Winner Announced - Media & Investors - Daiichi Sankyo". www.daiichisankyo.com. Retrieved 24 January 2016.
  6. ^ a b c d e f "Daiichi Sankyo Inc. Agrees to Pay $39 Million to Settle Kickback Allegations Under the False Claims Act | OPA | Department of Justice". www.justice.gov. Retrieved 2016-04-06. Public Domain This article incorporates text from this source, which is in the public domain.
  7. ^ "Ranbaxy-Daiichi marriage: Implications for Indian pharma". June 11, 2008. Retrieved April 29, 2014.
  8. ^ "Ranbaxy promoters to sell stake to Japan's Daiichi". June 11, 2008. Retrieved April 29, 2014.
  9. ^ "Daiichi Sankyo Intends to Purchase U3 Pharma for Roughly $236M". Genetic Engineering & Biotechnology News. Mary Ann Liebert, Inc. May 21, 2008. Retrieved July 6, 2008.
  10. ^ "Daiichi Sankyo To Acquire Plexxikon". February 28, 2011. Retrieved April 29, 2014.
  11. ^ "GEN - News Highlights:Daiichi Sankyo to Acquire Ambit Biosciences for Up to $410M". GEN.
  12. ^ "GEN - News Highlights:Daiichi Sankyo Sells Off Stake in Sun Pharma". GEN.
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