Major Japanese drugmaker Daiichi Sankyo Co. has established a wholly owned subsidiary in Singapore to expand its overseas development base for pharmaceutical products.

The company said the subsidiary, Daiichi Sankyo Singapore Pte. Ltd., was formed last Wednesday as its first drug development arm in Southeast Asia. It also engages in sales -- the core operation for the Tokyo-based firm's other two units in the region located in Thailand and Vietnam.

Daiichi Sankyo also announced that it launched two other wholly owned overseas units -- Daiichi Sankyo Pharma Canada Ltd. on Oct. 25 and Daiichi Sankyo Australia Pty. Ltd. on Oct. 28. -- to develop and sell drugs.

A Daiichi Sankyo official told NNA that the locations of the new companies were considered from a viewpoint of marketability of cancer drugs as part of efforts to achieve its midterm objective of strengthening the foundations of its cancer-related business.

Development and sales of cancer drugs are apparently to be the primary responsibility of the new Singapore unit under the drugmaker's midterm management plan that runs through the 2025 business year. However, the official only said details are being worked out.

The Daiichi Sankyo group now has 27 business bases outside Japan with the establishment of the three new subsidiaries. (NNA/ Kyodo)

==Kyodo

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