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Daiichi Sankyo to close Japanese plant

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Executive Summary

Daiichi Sankyois to close a formulation plant in Osaka, Japan, operated by its Daiichi Sankyo Propharma subsidiary, as part of the restructuring of its domestic manufacturing operations. The decision followed a review of current and future capacity and product demand, and will see the facility's activities shifted to the firm's three remaining formulation sites in Japan or outsourced over the period to March 2011, when it will be closed. The Osaka site employs 130 people and makes Loxonin (loxoprofen) and Mevalotin (pravastatin) tablets, as well as an over-the-counter herbal digestive product. The impact of the move on earnings will be minor, Daiichi Sankyo said.

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