July 10, 2013
Otsuka Pharmaceutical Co., Ltd.
Otsuka Europe Development and Commercialisation Ltd., a New Company for the Development of Pharmaceuticals Opens in the UK
- Establishment of the new company will further support Otsuka's rapid growth in Europe which has been more than two-fold over the past 5 years.
- The European market comprises 25%*of the total global pharmaceutical market making a strong European presence in clinical drug development essential.
- Otsuka Europe Development and Commercialisation Ltd. is Otsuka's 9th research and development institute.
(Tokyo, Japan and Uxbridge, UK) Otsuka Pharmaceutical Co., Ltd. (Otsuka) today announced the formation of Otsuka Europe Development and Commercialisation Ltd. (OEDC)
Established on July 1st, 2013, OEDC is an important milestone for Otsuka's growing European pharmaceutical business and a significant long-term investment for Otsuka in Europe. OEDC will be Otsuka's European Research and Development Headquarters, working alongside Otsuka Pharmaceutical Europe Ltd (OPEL) to ensure the successful development and commercialisation of our products.
"We are delighted to establish this new company in the UK," said Dean Haubrich, President and CEO of OEDC. "We believe that Otsuka has a great deal to contribute to the health and well-being of people in Europe and we look forward to reinforcing our strong, positive presence."
OEDC and OPEL are separate entities based in the same location, just outside London. This business model allows for optimal collaboration and is a critical success factor in the evolution of our global business. Our research and development and commercial operations teams will work closely together, with aligned goals, to build one fully integrated European company which will enable us to effectively respond to the increasingly rigorous regulatory environment.
"The opening of OEDC is a very important milestone for Otsuka in Europe," said Ole Vahlgren, President and CEO of OPEL "This significant long-term investment will strengthen Otsuka Europe's continued efforts to bring Otsuka's innovative medicines to patients across Europe."
- * (C)2013 IMSHealth. Calculated based on IMS World Review 2013 (Executive Summary) Reprinted with permission
About Otsuka Europe Development & Commercialisation Ltd.
Information in this news release was current as of the original release date.