London-based pharma company Dainippon Sumitomo Pharma Europe (DSP Europe) has changed its name to Sunovion Europe.

The new name reflects the development of DSP’s European subsidiary into a more active commercial organisation, shortly to launch a new schizophrenia drug.

Sunovion Europe will focus on products to treat mental health and neurological disorders – including the atypical antipsychotic lurasidone hydrochloride, which it plans to launch in Europe shortly.

The company will also develop and market specialised drugs for disease areas where there is unmet medical need.

Lurasidone hydrochloride, a generic drug, has been submitted to the European Medicines Agency (EMA) for treatment of schizophrenia by DSP’s European partner, Takeda.

Dr Mike Taylor, Managing Director of Sunovion Europe, said: “This represents a significant landmark in the evolution of our European business as we prepare to commercialise our first drug in the UK.

“At Sunovion Europe we focus on the development and introduction of innovative medicines that improve people’s health and well-being. We will continue to focus on psychiatry and neurology, and over time will grow the European business to include other areas.”

Dainippon Sumitomo Pharma (DSP) is a multi-billion dollar company based in Japan. It was formed by the merger in 2005 of Dainippon Pharmaceutical Co. and Sumitomo Pharmaceuticals Co.

With a growing product portfolio and pipeline, DSP aims to become a major supplier of innovative treatments in psychiatry, neurology and oncology.

The 27th Pharmaceutical Marketing (PM) Society Advertising Awards had the largest number of entrants ever (350) and saw the event expanding into the digital and exhibition arenas.

Notable winners among the advertising agencies included Langland Advertising, which won in seven categories (with 10 commendations), and VCCP Health, which won in three categories (with two commendations).

Of 36 pharmaceutical companies competing for the PM Society Awards, the most successful was Abbott with four wins and five commendations.

Three pharmaceutical companies – Astellas, Bayer and Johnson & Johnson – won two awards each, and another five – CSL Behring, Eisai, Janssen, Sanofi Pasteur MSD and Takeda – won one each.

Neil Smith, PM Society Advertising Awards Chairman, commented: “As ever, the truly aspirational creative treatments stand head and shoulders above the rest and their success is reflected by our industry and healthcare judges.”

From over 50 campaigns entered for the Awards, the most successful on the day were Langland’s campaign for Abbott’s drug Hidrasec (four wins and one commendation); the same agency’s campaign for Bayer’s Sativex (two wins and two commendations); and Lime’s campaign for Astellas’ Protopic (one win and two commendations).

Remarkably, Concentric Advertising won both the Primary and the Secondary Care Target Awards for one advertisement.

Two of the most coveted awards were the Healthcare Industry Award, won by relative newcomer VCCP Health, and the Geoff Brook Innovation Award, snagged by the Woolley Pau Gyro agency.

New awards were presented in three digital advertising categories, and exhibition displays were recognised in a new category for the first time.

The lunchtime awards ceremony in London was hosted by broadcaster and former MP Gyles Brandreth.

The PM Society, which promotes marketing excellence in the healthcare and life science industries, is a non-profit organisation with members in over 230 UK companies.

In 2012 the Society launched Interest Groups addressing key challenges facing UK pharmaceutical marketers: market access, digital marketing, NHS partnerships, patient engagement and personal development.

A new drug aimed at treating two rare forms of lymphoma has been launched in the UK.

Takeda UK’s Adcetris (brentuximab vedotin) is the first treatment licensed in the last three decades for adult patients with relapsed or refractory CD30 positive Hodgkin lymphoma (HL).

It can also be used in adults with relapsed or refractory systemic anaplastic large cell lymphoma (sALCL).

Sally Penrose, Chief Executive of the Lymphoma Association, said any new treatment for lymphoma is an “exciting development”.

Adcetris is an innovative antibody-drug conjugate (ADC) which targets CD30 receptors on HL and sALCL cancer cells and actively destroys the cells.

It was granted a conditional license following the results from a Phase II study which showed unprecedented results in patients with relapsed or refractory HL and sALCL.

HL is a type of cancer which mainly affects younger adults. The majority of patients are treated successfully. But up to a third fails to respond to standard therapy options.

sALCL is a rare and aggressive form of non-Hodgkin lymphoma (NHL) experienced by all ages. Approximately half of patients with sALCL fail to receive long-term remission through current available treatment – which reduces life expectancy.

Incivo, Victrelis and Mepact win recognition at the 2012 UK Prix Galien Awards.

Two new medicines for the treatment of Hepatitis C have won the 2012 UK Prix Galien Innovative Product
Award. Incivo (Janssen) and Victrelis (MSD) fought of stiff competition to win the prestigious prize at London’s House of Commons. The chairman of the judging panel, Professor Sir Michael Rawlins, said the treatments provided a perfect example of how the pharmaceutical industry can “demonstrate and justify its place in healthcare by innovating for change and showing real gains to the world.”

The ceremony also saw Takeda become only the third winners of a Prix Galien Award for orphan drug development. Mepact – for the treatment of osteosarcoma, a rare malignant bone tumour – won the Orphan Drug Award.

UK Prix Galien 2012
The UK Prix Galien, organised and managed by the specialist market access consultancy WG Consulting – which owns the UK franchise – is held every two years. The 2012 awards were hosted by former shadow Minister for Health Kevin Barron MP, who was the event’s Parliamentary Sponsor. Barron, who is currently co-Chair of the Associate Parliamentary Health Group, said: “It’s a privilege to be able to witness, at first hand, just a glimpse of the deep volumes of medical innovations being developed here in the UK. As an MP, I’ve had a long-standing professional acquaintance with UK pharma. I know and recognise the many
benefits UK medicines have brought – and continue to bring – to patients all over the world. The sector’s continued commitment to the development of medicines to tackle disease, improve health outcomes and extend life is both remarkable and humbling.”

Barron said there was political consensus that driving improvements in health outcomes across all major diseases is a key priority for the NHS – and this focus had been reflected in the 2012 finalists. “It’s interesting to note that the shortlisted entrants for the 2012 UK Prix Galien show that pharmaceutical innovation is aligned with many of the priority needs identified in the NHS Outcomes Framework. Finalists include innovations for the treatment of diseases in cardiovascular, hepatology, mental health, neurology, gastroenterology and oncology. In addition, Prix Galien’s recognition of the industry’s attempts to treat rare, orphan diseases, once again underlines the very human value of R&D.”

Value-based message
The architect of the NHS Outcomes Framework, former Health Secretary Andrew Lansley, also addressed the audience. Attending his fourth consecutive UK Prix Galien, Lansley said: “Every time I come to this event I hear about fascinating innovations that I know are going to be at the heart of the health service for years to come. I’ve met – and continue to meet – patients that have benefited directly from innovations that I’ve previously heard about at Prix Galien. The HPV vaccination programme we have been able to roll out is just one example of that. So it’s a privilege to be here.”

Lansley said that recognising and rewarding innovation is a key Government priority – and that the publication of Innovation Health and Wealth last December was part of a consistent value-based message
it wanted to send to the NHS. “That message is that as you, the pharmaceutical industry, bring forward new treatments that will clearly add value and improve the quality of healthcare for patients then the NHS should be at the forefront, internationally, of demonstrating that value. Our health service can be an exemplar and inspiration to people around the world because of its capacity to demonstrate the effectiveness of new treatments when they are used within the NHS.”

Lansley praised the UK pharma industry, highlighting the value its innovations bring both to the economy and to patients worldwide. “What you are doing is part of how this country will pay its way in the future,” he said. “And it has the added value of knowing that, in the process, we can give patients in this country access to the very best healthcare anywhere in the world.”

The recognition of innovation that can lead to improved health outcomes is a core aim of Prix Galien, as outlined by Professor Sir Michael Rawlins, who announced the winners. “Prix Galien is about honouring excellence in pharmaceutical research and development,” said Professor Sir Michael. “It is about recognising the contribution that new medicines can make to the lives of people with life-threatening conditions. It is about celebrating the achievements of all those individuals – working as teams – upon whom we rely for the discovery and development of new medicines. Most will be unknown to us – but we all owe them a huge debt of gratitude.”

Innovative Product Award
The prestigious Prix Galien medal for innovation was jointly awarded to Janssen and MSD for their respective hepatitis C treatments Incivo and Victrelis. In the UK, it is estimated that there are between 200,000 and 400,000 people chronically infected with hepatitis C virus. This may lead to liver cancer as well as other serious liver diseases. Infection with the hepatitis C virus poses a substantial global health burden, and is responsible for 40% of all cases of end-stage cirrhosis, 60% of hepatocellular carcinoma and 30% of liver transplants.

Professor Sir Michael Rawlins said: “Hepatitis C virus has become an enormous area of need globally, with many patients unaware that they are infected. The consequences of this virus are considerable and burdensome to both patients and the healthcare system; current treatments remain ineffective in a significant number of cases whilst being unpleasant and poorly tolerated by patients themselves.

“Hepatitis C infection is a perfect example of where the pharmaceutical industry can demonstrate and justify its place in healthcare by innovating for change and showing real gains to the world. It is for this reason that the panel felt that both Janssen and MSD should be celebrated and congratulated for their part in addressing the ongoing challenge in managing HCV and its associated complications.”

Brilique (AZ) and Resolor (Shire) both received commendations. Gilenya (Novartis), Xarelto (Bayer), Xeplion (Janssen), Xgeva (Amgen), Yervoy (Bristol-Myers Squibb), Zelboraf (Roche) and Zytiga (Janssen) were all shortlisted.

Orphan Drug Award
The Orphan Drug Award was introduced as a dedicated category at 2008 UK Prix Galien. There had previously been a special award for orphan products in 2006. The term ‘orphan condition’ is used to describe conditions that affect a very small number of patients in a given population – many of which are either untreatable or treated very inadequately. It is estimated that there are 6,000 orphan diseases – which, in total, affect about 30 million EU citizens.

“For orphan diseases that are potentially treatable with medicines, pharmaceutical manufacturers face a number of hurdles – including concerns about the size of the market and difficulties because of the small numbers of patients – in their development,” said Professor Sir Michael.

The 2012 Orphan Drug Award was won by Mepact from Takeda. Mepact (mifamurtide) is for the treatment of osteosarcoma, a rare malignant bone tumour – mainly of children and adolescents – that affects fewer than 1 per 10,000 individuals in the EU. This is equivalent to 150 children and young adults each year in the UK. Tumours most frequently occur in the long bones and are highly aggressive with a propensity to metastasise, particularly to the lung. If left untreated, the primary tumour will undergo local and systemic progression, leading to death within months.

“To investigate the role of this immune modulator in osteosarcoma required extensive and complex trial design with careful implementation of the study programme,” said Professor Sir Michael. “Apart from its novel mechanism of action – and clear evidence of its clinical effectiveness – the jury were also extremely impressed that such an advance in the management of osteosarcoma represents the first significant change in outcomes in 10–20 years of managing this disease. That Takeda managed to undertake the clinical development of this product – in such a niche indication – is hugely to their credit.”

As the era of blockbuster drugs draws to an end, the pharmaceutical industry is looking to fresh markets and new models of drug development while facing legislative changes as well as economic threats. Sarah Hanson looks at what lies ahead for the industry in 2012.

2012 looks set to be the year when pharmaceutical companies face their scariest outlook: peering over the brink of a patent cliff. Major pharmaceutical companies are realising that they can no longer rely on a broken business model that is dependent on blockbuster drugs, and are looking for alternative ways to maintain profits and cover the loss of revenues due to patent expiry. This throws up a host of commercial, legal and regulatory challenges.

Entering new markets
Major structural shifts are taking place in R&D and how intellectual property is financed, meaning that the life sciences sector is providing a rare bright spot in the pervading economic gloom. Over the last decade, there has been almost US$700bn worth of deals in the pharmaceutical sector, which remains one of the prime industries in terms of M&A activity. Now we are likely to be at the start of a fresh cycle of M&A activity in the industry, with a particular focus on emerging markets (BRIC, South-East Europe and Turkey) where the portfolios of many pharma companies remain weak.

Japan has enjoyed a particularly busy year in terms of pharmaceutical M&A: across all sectors, cross-border acquisitions by Japanese companies nearly tripled relative to 2010. Liquidity among Japanese pharma companies remains strong, as does demand for prescription medicines from an ageing population, enabling Japanese companies to enter into deals at a time of intense competition for intellectual property in the industry. In 2011 Takeda, the largest Japanese pharmaceutical company, completed its €9.6bn (debt-free, cash-free) acquisition of Swiss drug company Nycomed. On the back of this transformative deal, we expect the industry to undertake more M&A activity in Japan in 2012. Factors such as the economic climate, demography and the state of R&D pipelines should see more Asian acquisitions of European patented drugs.

Emerging markets also continue to receive significant life science private equity (PE) investment, with China and India gaining the most. Historically, the risk involved in R&D has led PE firms to avoid large pharma companies and the biopharma industry in general. However, recently some small deals have linked PE and venture capital with biotechnology, and we are seeing investment in a number of diverse projects in different life science areas. This growing trend is already playing out in Europe – according to the European Private Equity and Venture Capital Association, the total investment in life sciences in Europe increased from €3.4bn in 2009 to €5.7bn in 2010, while the total venture investment in life sciences accounted for 30% of the total investment in Europe in 2010. Such funding is likely to increase as the cash-rich life sciences sector is seen to be ’recession proof’.

A helping hand for R&D
Pharmaceutical companies looking to weather the storm of patent expiry on key products are also looking to diversify their pipelines and develop replacement products. With most companies struggling to make a return on high R&D costs pumped into prospective pipelines, additional support is vital.

In the UK, the Government hopes its new Patent Box legislation will give a welcome boost to research and development. When it comes into force in April 2013, the Patent Box will reduce UK corporation tax on patent profits to 10%, encouraging R&D activity and providing incentives for companies to retain intellectual property in the UK. This will make the UK competitive with other European countries such as Ireland, Switzerland and Hungary, which have had similar systems in place for years. While the existing system of R&D tax credits has given some relief for R&D expenditure, there has until now been no similar incentive for businesses to retain their IP in the UK once it has been created.

Legislation such as Supplementary Protection Certificates (SPCs) will also play a significant role in assisting companies facing the expiry of major patent portfolios and provide more protection for companies investing heavily in R&D. EU patent offices have long been able to grant SPCs where there has been a large gap for a company between filing a patent application and getting authorisation to market a drug. However, legal issues surround how SPCs apply to medicines that contain more than one active ingredient. In a landmark case in November 2011, the Court of Justice of the EU said that there is no reason why an SPC may not be granted for a single active ingredient that is specified in a patent where the marketing authorisation also contains other active ingredients. This (and other recent cases regarding SPCs) is likely to have further ramifications in battles between generic and pharmaceutical companies into 2012.

New legislation: help or hindrance?
New legislation coming into force will also have an impact on the pharma industry in the year ahead. Whether the expected IP and regulatory legislation will help or hinder pharmaceutical companies in this challenging climate remains to be seen.

A number of significant regulatory issues are being debated in Europe. A Directive is being developed to improve the EU pharmacovigilance system, simplify regulatory decision-making, provide a legal basis for more proactive pharmacovigilance by both regulatory authorities and the industry, and involve patients more closely in reporting adverse drug reactions. Though it was adopted in 2010, compliance is not compulsory until 2012. The legislation will bring about the most profound change to the legal framework since 1995, when the EMA was set up. The European Commission, EMA and Member States have been carrying out work to implement the legislation, but companies still lack clarity on many of the new obligations. It is likely that the new requirements will be introduced in phases beyond the original July 2012 implementation deadline.

At a time when social networking continues to grow and become part of the daily routine of many working lives, pharmacovigilance is particularly important. The pharma industry must recognise that social networking and reporting are taking on a rapidly-increasing significance in the marketing, discussion and exchange of information concerning drugs. There are pharmacovigilance obligations at all stages of the life cycle of a medicine and the process of drug monitoring; the pharmacovigilance system will need to take account of this, not least because the increasing use of social media also poses interesting questions around geographical legal jurisdiction.

Discussions continue about the introduction of a Directive that would require substantial changes to the regulation of clinical trials. In March 2010, the Chancellor of the Exchequer announced that the Government would review the UK’s implementation of the Clinical Trials Directive in order to reduce perceived gold-plating and to increase the proportionality of the system. The MHRA has stated that it intends to wait for the outcome of the European negotiations before reviewing and amending the UK legislation.
2012 may also herald significant changes in the way drugs are marketed. EFPIA in particular will be under the spotlight this year as the implications of amendments to the advertising of medicines become apparent. Currently, the advertisement for a medicine must be in line with the product’s Summary of Product Characteristics (SmPC). Hence off-label promotion is not allowed. EFPIA has approved an amended Code of Practice on the promotion of prescription-only medicines to, and interactions with, healthcare professionals.

The changes to the Code make allowance, for example, for the provision of a limited number of samples to healthcare professionals for a limited time (Art. 16).  Previously, following EU Directive 2001/83/CE, the provision of samples was not allowed (due to concern over inducement); but in accordance with national and/or EU laws and regulations, a limited number of medical samples may now be supplied on an exceptional basis and for a limited period. A reasonable interpretation of this provision is that each health professional should receive, per year, not more than four medical samples of a particular medicine that he/she is qualified to prescribe for two years after he/she first requests samples of that particular medicine.

A landmark year
Last year saw significant developments for the pharma industry – and for lawyers – which look set to continue through 2012. With deals such as Takeda’s acquisition of Nycomed in 2011, we expect the trend of commercial and economic power shifting eastward to continue. Increased diversification, coupled with regulatory hurdles, will set a challenge for the pharma industry. Whether companies will survive and thrive on this challenge remains to be seen as the year unfolds, but the structural upheaval felt as a result of life beyond the patent cliff is already being witnessed.

Sarah Hanson is a partner at CMS Cameron McKenna: the UK branch of CMS, a leading European provider of legal and tax advice.

Takeda Pharmaceutical will acquire Brazilian pharmaceutical company Multilab Industria for $246m in cash, plus up to $20m in future milestone payments.

The acquisition shows the Japanese company’s growing interest in high-growth emerging markets.

Last year Takeda bought Swiss company Nycomed for $13.7bn, boosting its access to European and emerging markets.

Earlier this year it purchased US company URL for $800m.

Multilab is a mid-sized pharmaceutical company selling branded generics and OTC drugs, with an annual revenue in 2011 of $69m.

Among the products Takeda will gain is Brazil’s leading OTC cold and flu medication, Multigrip.

The acquisition, expected to close by the end of September, will place Takeda among Brazil’s top 10 pharma companies.

“This acquisition significantly reinforces Takeda’s position in Brazil, which is the world’s sixth largest economy,” said Jostein Davidsen, Corporate Officer, Head of Emerging Markets Commercial Operations at Takeda.

“Takeda has ambitious plans for growth in emerging markets. Brazil is our second largest emerging market after Russia/CIS and the acquisition of Multilab is a clear signal of our intention to become a significant player both in Brazil and other high-growth markets.”

Shares in Arena Pharmaceuticals increased in price by 80% after advisors to the FDA backed the approval of the obesity drug lorcaserin.

The FDA’s Endocrinologic and Metabolic Drugs Advisory Committee voted in favour of recommending lorcaserin after deciding data demonstrated that benefits outweighed long-term risks.

Jack Lief, Arena CEO, said the decision “supports our belief in lorcaserin as a potential new treatment option for the medical management of overweight and obesity”.

The Prescription Drug User Fee Act (PDUFA) date for the FDA’s final decision on lorcaserin is now expected on 27 June.

Lorcaserin was initially rejected by the FDA back in 2010 when concerns were raised over its clinical effectiveness and around its side-effects.

Arena refiled the drug at the end of 2011 with new data ruling out excessive risk of valvular heart disease.

The decision on Lorcaserin comes a month after the same committee supported the use of Vivus’ rival obesity drug Qnexa (phentermine/topiramate) with its PDUFA data extended from April 17 to July 17.

Contrave (naltrexone/bupropion), another rival weight loss drug from Orexigen Therapeutics and Takeda, is currently being evaluated in a cardiovascular outcomes trial after it was rejected by the FDA over heart risks.

After the positive decision by the FDA’s advisors, Arena and its marketing partner Eisai expanded their marketing and supply agreements for the treatment to cover the US, Canada, Mexico and Brazil.

Takeda will purchase US company URL Pharma for $800m in order to build its portfolio of drugs to treat gout.

URL’s lead product Colcrys, a treatment for acute flare-ups of the arthritic disease, will be marketed alongside Takeda’s drug for chronic gout, Uloric.

Takeda expects the acquisition to close within two months and to add $550m to its revenue for 2012.

Douglas Cole, President of Takeda Pharmaceuticals USA, said the deal would make Takeda the only company offering both acute and chronic gout therapies.

“This allows us to give them the whole story on gout,” he commented. “That complementary message is valuable when we talk to physicians on patient care issues.”

Takeda will pay $800m upfront to buy URL Pharma, and the deal may include future performance-based payments.

Colcrys generated more than $430m in revenue for URL Pharma in 2011.

Gout, an arthritic disease of joints and tendons, causes intense pain. The disease is increasingly prevalent in the US due to the growing prevalence of obesity.

Uloric lowers blood uric acid levels in adults with gout, helping to prevent flare-ups, whereas Colcrys reduces pain during such episodes.

The deal is the third major acquisition by Takeda in recent years, following its purchases of Millennium Pharmaceuticals for $8.8bn in 2008 and Nycomed for $13.7bn in 2011.

AstraZeneca will collaborate with Amgen to develop and commercialise five products from the US biotech company’s portfolio of antibodies to fight inflammation.

The five monoclonal antibodies offer potential treatments for psoriasis, psoriatic arthritis, asthma, Crohn’s disease, ulcerative colitis and lupus.

Under the terms of the agreement, the UK pharma company will make a one-off $50m upfront payment and then the companies will share costs and profits.

The collaboration will increase Amgen’s resources for drug development, drawing on the expertise of AZ’s biologics business MedImmune as well as its global commercial reach.

The companies will jointly develop and commercialise the following five assets from Amgen’s clinical-stage portfolio:

• Brodalumab (AMG 827), currently being investigated for psoriasis (planned phase III), psoriatic arthritis (phase II) and asthma (phase II).

• AMG 139, being investigated for Crohn’s disease (phase Ib).

• AMG 181, being investigated for ulcerative colitis (phase Ia) and Crohn’s disease ((phase Ib).

• AMG 557, being investigated for autoimmune diseases such as lupus (phase Ib).

• AMG 157, being investigated for asthma (phase Ib).

The agreement does not include certain territories covered by Amgen’s existing agreements with Kyowa Hakko Kirin for brodalumab and Takeda for AMG 557.

AZ will fund approximately 65% of costs for these products to the end of 2014, and then the companies will split costs equally. Amgen will book global sales and retain a single-digit royalty for the portfolio, after which they will share profits equally.

Amgen will lead the development and commercial strategy for brodalumab and AMG 557, while AZ will do the same for AMG 139, AMG 157 and AMG 181.

David Brennan, CEO of AstraZeneca, said: “This creative collaboration will make the most of both companies’ respective capabilities, including AstraZeneca’s extensive global reach, to help bring these potentially innovative treatment options for a variety of respiratory and inflammatory diseases to patients around the world.”

“We believe this collaboration has the potential to bring more therapies to patients sooner, across more geographic areas,” commented Kevin Sharer, CEO of Amgen. “We are impressed with AstraZeneca’s extensive experience in developing and launching products in the respiratory and gastroenterology areas, and believe this collaboration is an opportunity to work with a partner that has leading regulatory and commercial expertise in inflammation indications.”

Takeda has continued its reorganisation of its senior leadership team with two directors receiving new positions and several staff assigned new roles.

Former Managing Director and Chief Administrative Officer Toyoji Yoshida will take over as Managing Director, Internal Control and Special Missions assigned by President Yasuchika Hasegawa.

Yasuhiko Yamanaka, former Managing Director, Senior Vice President, Pharmaceutical Marketing Division, will become Managing Director, Assistant to CEO, Globalisation.

A number of other senior staff in Takeda’s pharmaceuticals business have also had their job titles changed and have been given new responsibilities.

Shinji Honda will now become Corporate Officer, Senior Vice President, Corporate Strategy Department after serving as Corporate Officer, Chief Integration Officer, Takeda Pharmaceuticals International GmbH.

Hiromi Ooyabu, who used to be Vice President, Product Planning & Administration Department, Pharmaceutical Production Division, has moved to the HR department as Vice President.

Tsudoi Miyoshi, who was acting as secondment to Millennium Pharmaceuticals, will switch to Head of CMSO Office, Takeda Pharmaceuticals International.

Masato Iwasaki, new Corporate Officer, Senior Vice President, Pharmaceutical Marketing Division, Toru Ishida, who will work as Vice President, Product Planning & Administration Department, Pharmaceutical Production Division, and Tomohiro Akiyama, who takes over as Vice President, Production Control Department, Pharmaceutical Production Division, have also been assigned revised roles.

The Japanese-based company now plans to reorganise its Corporate Strategy & Planning Department and Finance & Accounting Department to form two new departments: Corporate Strategy Department and Corporate Finance & Controlling Department.