JAPANESE DRUG COMPANIES LAUNCH U.S. SUBSIDIARY

Three Japanese drugmakers -- Sankyo Pharma, Daiichi Pharmaceutical and Daiichi Medical Research -- have formed a new pharmaceutical company, Daiichi Sankyo, to serve as their U.S. subsidiary. Headquartered in Parsippany, New Jersey, the new company will focus on global clinical research capabilities and developing the drug pipeline.

"Science is at the heart of what we do -- it is maintaining this balance between discovery and drug development that will continue to drive our success in the U.S," said Joe Pieroni, president of Daiichi Sankyo and former president of Sankyo Pharma.

The new company will focus primarily on drugs for cardiovascular diseases, glucose metabolic disorders, infectious diseases, cancer, immunology and bone and joint diseases.