Otsuka Pharmaceutical has established a new company named Otsuka Europe Development and Commercialisation Ltd. (OEDC) for the development of pharmaceuticals in the UK.
Working in conjunction with Otsuka Pharmaceutical Europe (OPEL), OEDC will serve as Otsuka's European research and development headquarters to ensure the successful development and commercialisation of the company's products.
OEDC president and CEO Dean Haubrich said, "We believe that Otsuka has a great deal to contribute to the health and well-being of people in Europe and we look forward to reinforcing our strong, positive presence."
The business model is expected to facilitate optimal collaboration allowing research and development and commercial operations teams to work closely and build one fully integrated European company.
OPEL president and CEO Ole Vahlgren said, "This significant long-term investment will strengthen Otsuka Europe's continued efforts to bring Otsuka's innovative medicines to patients across Europe."
