Effective on the first day of July, global developer of novel cancer therapeutics Sumitomo Pharma Oncology, a wholly owned Sumitomo Pharma Co. Ltd, will join forces with multiple other companies under the Sumitomo umbrella to form Sumitomo Pharma America, Inc. The other affiliate companies involved in the large-scale team-up are Sumitomo Pharma America Holdings, Inc., Sumitovant Biopharma Ltd., Myovant Sciences, Inc., Urovant Sciences, Inc., Enzyvant Therapeutics, Inc., and Sunovion Pharmaceuticals Inc., with Sumitovant’s current Chief Executive Officer Myrtle Potter stepping into a dual role as President and CEO of the new entity upon completion of the merger.
"We remain deeply committed to addressing pressing health challenges and believe Sumitomo Pharma America will serve as a valuable growth engine,” said Hiroshi Nomura, Sumitomo Pharma’s President and CEO, in a statement. “Sumitomo Pharma America will have increased scale and a combined network of resources and talent to accelerate a diverse portfolio of commercial and investigational programs for critical indications while creating a sustainable platform for growth."
The newly created Sumitomo Pharma America will enter the global medical industry as a tech-driven biopharma company seeking to address patients’ unmet needs in oncology, urology, women's health, cell gene therapies, and many more critical areas. The involved subsidiaries will retain their independence until the finalization of the combination, and each is lending a hand to the integration efforts in the interim to allow for the smoothest transition possible at the behest of eager stakeholders.
