Otsuka America Pharmaceutical, Inc. (OAPI), announces that it will integrate Avanir Pharmaceuticals into its business as of January 1, 2023. The move brings together the knowledge, capabilities and best practices of both companies to further advance solutions to treat central nervous system (CNS) disorders. Avanir and OAPI are both subsidiaries of OAI, a holding company established in the U.S. in 1989. OAI is wholly owned by Otsuka Pharmaceutical Co., Ltd., a global healthcare company.

"I'm extremely proud to have led this extraordinary team of dedicated employees over the past five years," said Wa'el Hashad, president and chief executive officer, Avanir Pharmaceuticals. "Avanir's spirit of innovation and excellence will live on at Otsuka and ensure the continued innovation that will bring hope to patients and families."

"Avanir and Otsuka have always shared a deep commitment to advancing solutions that improve the lives of patients and their caregivers. We welcome every new employee to the Otsuka family and know each will continue to make an impact on the communities we serve," said Tarek Rabah, president and CEO, Otsuka North America Pharmaceutical Business (OAPI). "This integration will bring greater opportunities to develop treatments for those impacted by CNS disorders."

Founded in 1988 as Lidak Pharmaceuticals, the company became Avanir Pharmaceuticals in 1998 and launched their flagship product, Nuedexta (dextromethorphan hydrobromide and quinidine sulfate). Acquired by Otsuka in 2015, Avanir has been at the forefront of developing and delivering groundbreaking pharmaceutical treatments for people with CNS conditions.

About Avanir Pharmaceuticals, Inc.

Avanir Pharmaceuticals, Inc. is a pharmaceutical company committed to delivering innovative central nervous system (CNS) solutions to improve the lives of patients and their care communities. For more information about Avanir, visit https://www.avanir.com.

Avanir is a subsidiary of Otsuka America, Inc. (OAI), a holding company established in the U.S. in 1989. OAI is wholly owned by Otsuka Pharmaceutical Co., Ltd., a global healthcare company with the corporate philosophy, "Otsuka-people creating new products for better health worldwide."