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Eisai Establishes Pharma Sales Subsidiary in Moscow Ahead of Planned Direct Sales Launch in Russia
Eisai Co., Ltd. announced that it has established a new pharmaceutical sales subsidiary in Moscow, Russia, which will be named Limited Liability Company Eisai ("Eisai Russia"). Eisai Russia will function as a direct subsidiary of Eisai's U.K. pharmaceutical operation, Eisai Europe Ltd.
The Russian pharmaceutical market constitutes the 11th largest in the world and is expected to achieve double-digit growth going forward. Eisai established a representative office in Moscow in October 2007 and has since been working to complete product registration procedures, with marketing approval received in Russia for anticancer agent Halaven(R) (eribulin mesylate) and antiepileptic agents Zonegran(R) (zonisamide) and Exalief(R) (eslicarbazepine acetate, brand name in the EU: Zebinix(R)) in fiscal 2012.
The establishment of new sales subsidiary Eisai Russia is part of Eisai's preparations to expand direct sales operations into the Russian healthcare market. Eisai Russia plans to launch Halaven in the first quarter of fiscal 2013, followed by respective launches of Zonegran and Exalief. In addition, Eisai has also filed for regulatory approval in Russia for AMPA receptor antagonist Fycompa(R) (perampanel).
As part of Eisai's globalization strategy defined in its midterm strategic plan, "HAYABUSA," the company aims to expand its operations into all of the world's top 20 largest pharmaceutical markets to effectively make contributions to more than 500 million patients worldwide. Through the establishment of Eisai Russia, Eisai expects to deliver its innovative pharmaceutical products to patients in Russia as well as to increase the benefits provided to patients and their families across the region.
Outline of New Subsidiary
1) Company Name: Limited Liability Company Eisai
2) Location: Moscow, Russia
3) General Manager: Igor Galaburda
4) Scope of Business: Marketing and promotion of pharmaceutical products
5) Charter Capital: 163 million Russian rubles (4 million euro)
6) Major Shareholder: Eisai Europe Limited
7) Date of Establishment: April 1, 2013 (local time)
About Eisai's Globalization Strategy as Outlined Under Its Midterm Strategic Plan, "HAYABUSA"
Eisai has set the goal of entering the world's top 20 largest pharmaceutical markets as part of the company's globalization strategy outlined in its midterm strategic plan, "HAYABUSA." Of the eight countries (Russia, Canada, Brazil, Australia, Turkey, Poland, Mexico, and Venezuela) that Eisai announced it would enter as part of that strategy when the "HAYABUSA" plan was launched in March 2011, the company has already established pharmaceutical sales subsidiaries in countries other than Russia; namely, Australia (January 2006), Canada (April 2010), Brazil (April 2011), and Mexico (August 2011). Eisai seeks to address the significant unmet medical needs that exist in both mature and emerging markets by improving access to medicines through its provision of comprehensive disease solutions, engagement in public-private partnerships and other initiatives, and the implementation of its affordable pricing policy, among other activities.
Furthermore, the company aims to dramatically expand the total number of patients it serves from the just over 200 million it recorded for the period from fiscal 2006 through fiscal 2010, to its current target of more than 500 million patients for the five-year period between fiscal 2011 and fiscal 2015. In doing so, Eisai believes it will be able to better contribute to increasing the benefits provided to as many patients and their families as possible worldwide.
<BR /><BR />Eisai Co., Ltd. (TSE: 4523; ADR: ESALY) is a research-based human health care (hhc) company that discovers, develops and markets products throughout the world. Eisai focuses its efforts in three therapeutic areas: integrative neuroscience, including neurology and psychiatric medicines; integrative oncology, which encompasses oncotherapy and supportive-care treatments; and vascular/immunological reaction. Through a global network of research facilities, manufacturing sites and marketing subsidiaries, Eisai actively participates in all aspects of the worldwide healthcare system. For more information about Eisai Co., Ltd., please visit www.eisai.com.