Daiichi Pharma Holdings, Sankyo Pharma to form Daiichi Sankyo Inc.

By Angela McDaniels

Seattle, March 23 - Daiichi Pharma Holdings Inc. and Sankyo Pharma Inc. will merge and begin doing business as a new company, Daiichi Sankyo Inc., on April 3, according to a news release.

Daiichi Pharma Holdings and Sankyo Pharma are the American subsidiaries of Japan-based Daiichi Pharmaceutical Co. Ltd. and Sankyo Co. Ltd., respectively.

Sankyo will own 80.8% of Daiichi Sankyo shares and Daiichi Pharmaceutical will own the remaining 19.2%, according to the release.

The new company will be based in Parsippany, N.J., and will assume responsibility for the development and sales of pharmaceuticals in the United States of ultimate parent company Daiichi Sankyo Co. Ltd.

Corporate officers will include president Joseph P. Pieroni, chief financial officer Hiroshi Hashimoto and secretarial officer Craig B. Bleifer.

Chairman John. C. Alexander will lead the board of directors, which will also include directors Joseph P. Pieroni, Hiroyoshi Horikoshi, Kazunori Hirokawa, Hiroshi Hashimoto, Hikaru Nagata and Masatoshi Sakamoto.

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