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For Immediate Release

2018.05.30

Company name: DAIICHI SANKYO COMPANY, LIMITED
Representative: Sunao Manabe, Representative Director, President and COO
(Code no.: 4568, First Section, Tokyo Stock Exchange)
Please address inquiries to Koji Ogawa, Corporate Officer,
Vice President, Corporate Communications Department
Telephone: +81-3-6225-1126
http://www.daiichisankyo.com

Daiichi Sankyo U.S. subsidiary, Luitpold Pharmaceuticals, Inc., to Be Merged with Its Own Subsidiaries and Renamed

Tokyo, Japan (May 30, 2018) - Daiichi Sankyo Company, Limited (Headquarters: Chuo-ku, Tokyo; hereafter, Daiichi Sankyo) today announced that a Board of Directors Meeting resolved that American Regent, Inc. and PharmaForce, Inc., subsidiaries of Luitpold Pharmaceuticals, Inc. (Headquarters: New York State, USA; hereafter, Luitpold) are to undergo an absorption-type merger with Luitpold as the surviving company. The name of said surviving company, Luitpold, is to be changed to American Regent, Inc., effective January 2019.

This merger is to be between wholly-owned subsidiary companies of Daiichi Sankyo; therefore, some items have been omitted.

 

1. Reasons for merger and corporate name change

(1) Reasons for merger

The aims are to increase the efficiency of governance and management.

 

(2) Reasons for corporate name change

American Regent is currently the market-facing brand for products that provide more than 95% of Luitpold’s revenue, including products for treating iron deficiency (Injectafer® [ferric carboxymaltose] and Venofer® [iron sucrose]) and generic injectables. In the future, the consolidation of the American Regent brand, which is widely known in the USA, with the corporate brand (company name) will more clearly express the company's principles of "customer-centricity" and "ensuring high-quality and stable supply".

 

Newly renamed American Regent, Inc. will continue to modernize and expand its manufacturing facilities through major, medium-to-long-term capital investment, to provide rapid and flexible product supply to respond to varied demands in a rapidly changing U.S. pharmaceutical market.

 

2. Summary of merger

The form of the merger is an absorption-type merger with Luitpold as the surviving company. American Regent, Inc. and PharmaForce, Inc. as the extinct companies will be dissolved. There will be no issuance of new shares or cash allocation with this merger. American Regent, Inc. and PharmaForce, Inc. have not issued any subscription rights to shares or bonds with subscription rights to shares.

 

3. Summary of merging companies (as of May 30, 2018)

 

Surviving company

Extinct company

Extinct company

1. Company name

Luitpold, Inc.

American Regent, Inc.

PharmaForce, Inc.

2. Headquarters location 

Shirley, New York State, USA

Shirley, New York State, USA

Columbus, Ohio State, USA

3. Representative

President: Ken Keller

President: Ken Keller

President: Ken Keller

4. Type of business

Research & development, manufacture, and marketing of pharmaceutical products and veterinary drugs

Manufacture and marketing of pharmaceutical products, etc.

Manufacture and R&D of pharmaceutical products, etc.

5. Paid-in capital

$US 200,000

$US 1,000

$US 1,000

 

4. Scheduled date

Date of resolution by the Board of Directors of each company: June 2018

Date of completion of Merger Agreement: June 2018

Merger effective date and corporate name change date: January 2019

 

5. Future expectations

As the merger is between wholly-owned subsidiaries of Daiichi Sankyo, it will have a marginal effect on Daiichi Sankyo's consolidated financial results.

 

Information about Luitpold Pharmaceuticals, Inc.

Luitpold Pharmaceuticals, Inc. and its subsidiaries carry out development, manufacturing, and marketing of products, including products for treating iron deficiency (Injectafer and Venofer), generic injectables, and veterinary drugs in the USA.