Healthcare Industry News: CRESTOR
News Release - July 1, 2010
Shionogi Announces Reorganization of US Operations, New Leadership
FLORHAM PARK, N.J. & ATLANTA--(HSMN NewsFeed)--Shionogi & Co., Ltd. (Head office: Osaka, Japan; President: Isao Teshirogi; hereafter: “Shionogi”) today announced the establishment of “Shionogi Inc.” as its consolidated US corporate headquarters based in New Jersey. Dr. Sapan Shah has been named as President and Chief Executive Officer of Shionogi Inc., having previously led Shionogi USA, Inc., as President and Chief Executive Officer since 2002.In the reorganization, Shionogi Inc. will oversee all US operations for Shionogi, including Shionogi Pharma, Inc., a subsidiary based in Atlanta, Georgia, which will remain a sales, marketing and distribution office. Joseph Ciaffoni has been promoted to President of Shionogi Pharma, Inc., reporting directly to Dr. Shah. Ciaffoni previously served, since 2008, as Chief Commercial Officer of Shionogi Pharma, Inc. Shionogi’s US clinical development and regulatory operations will continue under Shionogi USA., Inc. for a transitional period, after which they will be combined into Shionogi Inc.
The decision to create two centers of excellence in the United States under one leadership, with Atlanta focused on sales, marketing and distribution, and New Jersey as the group headquarters, corporate strategy, clinical development and regulatory functions, will ensure efficient US operations and close coordination of Commercial and R&D activities. A single Executive Committee within Shionogi Inc. will manage all US operations.
About Shionogi & Co., Ltd.
Headquartered in Osaka, Japan, Shionogi & Co., Ltd. is a major research-driven pharmaceutical company dedicated to placing the highest value on patients. Shionogi’s Research and Development currently targets three therapeutic areas: Infectious Diseases, Pain, and Metabolic Syndrome. The Company has provided such innovative medicines as CRESTOR and Doripenem, which have been successfully delivered to millions of patients. In addition, Shionogi is engaged in new research areas such as allergy and cancer. Contributing to the health of patients around the world through development in these therapeutic areas is Shionogi’s primary goal. For more details, please visit www.shionogi.co.jp. For more information on Shionogi Inc., headquartered in Florham Park, NJ, please visit www.shionogi-inc.com.
Forward Looking Statements
This announcement contains forward-looking statements. These statements are based on expectations in light of the information currently available, assumptions that are subject to risks and uncertainties which could cause actual results to differ materially from these statements. Risks and uncertainties include general domestic and international economic conditions such as general industry and market conditions, and changes of interest rate and currency exchange rate. These risks and uncertainties particularly apply with respect to product-related forward-looking statements. Product risks and uncertainties include, but are not limited to, completion and discontinuation of clinical trials; obtaining regulatory approvals; claims and concerns about product safety and efficacy; technological advances; adverse outcome of important litigation; domestic and foreign healthcare reforms and changes of laws and regulations. Also for existing products, there are manufacturing and marketing risks, which include, but are not limited to, inability to build production capacity to meet demand, unavailability of raw materials and entry of competitive products. The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Source: Shionogi
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