Sunovion Pharmaceuticals Inc. (Sunovion), formerly Sepracor Inc. (Sepracor), announced today that it has formally changed its name. The change occurs on approximately the one year anniversary of the acquisition of Sepracor by Dainippon Sumitomo Pharma Co., Ltd. (DSP), an Osaka, Japan based pharmaceutical company. Sunovion integrates under one brand the distinct competencies of Sepracor and the former Dainippon Sumitomo Pharma America, Inc. (DSPA), the two U.S. operations of DSP.
“This is an exciting time for Sunovion Pharmaceuticals Inc. and we are poised to deliver on our vision to become a leading global pharmaceutical company known for scientifically-advanced products that improve the lives of patients,” said Mark Iwicki, President and Chief Operating Officer of Sunovion. “The meaning of Sunovion combines the strength of the sun with innovation and, for us, represents the start of a great new company. Launching our new corporate identity is a meaningful next step for our employees and partners who have contributed to our past success. We remain focused on our goal to grow our current brands and advance our pipeline candidates.”
In April 2010, DSPA, based in Fort Lee, N.J., merged into Sepracor consolidating DSP’s North American footprint in Marlborough, Mass. As Sunovion, the company will maintain corporate headquarters in Marlborough and critical R&D functions will continue in both Fort Lee and Marlborough. The company will maintain sales and marketing efforts for leading central nervous system and respiratory brands including LUNESTA®, XOPENEX®, XOPENEX HFA®, BROVANA®, OMNARIS® and ALVESCO®. Sunovion is also awaiting U.S. Food and Drug Administration (FDA) action on its New Drug Application (NDA) for lurasidone, an atypical, antipsychotic agent for the treatment of schizophrenia in adult patients. The NDA was submitted to the FDA on December 30, 2009.
“The United States is a critical market for our growth strategy,” said Masayo Tada, President and Chief Executive Officer of DSP. “Sunovion Pharmaceuticals Inc. represents the combined value of our U.S. operations and allows us to focus our unified efforts on achieving our vision of becoming an internationally recognized global pharmaceutical company. Through our extensive commercial network, complementary R&D expertise, and global presence, we are strengthening our position as a global pharmaceutical leader. Moreover, we intend to expand the Sunovion brand in certain strategic international locations.”
