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May 05, 2015 9:45 AM ET

Pharmaceuticals

Company Overview of Daiichi Sankyo, Inc.

Company Overview

Daiichi Sankyo, Inc. operates as a research-based pharmaceutical company that discovers, develops, and commercializes pharmaceutical products. It offers olmesartan medoxomil, hydrochlorothiazide, prasugrel, cevimeline HCI, amlodipine, colesevelam HCI, and vemurafenib tablets. The company provides therapies in hypertension, dyslipidemia, diabetes, acute coronary syndrome, and metastatic melanoma areas. It serves patients, and professional organizations and institutions in the United States and internationally. Daiichi Sankyo, Inc. was formerly known as Sankyo Pharma Inc. and changed its name to Daiichi Sankyo, Inc. in April 2006. The company was founded in 1996 and is based in Parsippany, New...

Two Hilton Court

Suite 2

Parsippany, NJ 07054

United States

Founded in 1996

Phone:

973-359-2600

Fax:

973-359-2645

Key Executives for Daiichi Sankyo, Inc.

Executive Chairman, President, Global Head of Research & Development - Daiichi Sankyo Ltd and Senior Executive Officer of Daiichi Sankyo Ltd
Vice President of Operations
Chief Executive Officer of Daiichi Sankyo Co., Ltd. and President of Daiichi Sankyo Co., Ltd.
President of Commercial Operations
Age: 51
Executive Vice President and Head of Global Business Development
Compensation as of Fiscal Year 2014.

Daiichi Sankyo, Inc. Key Developments

AstraZeneca Announces Co-Commercialization Agreement with Daiichi Sankyo, Inc. for MOVANTIK

AstraZeneca announced a co-commercialization agreement with Daiichi Sankyo, Inc. for MOVANTIK (naloxegol) in the US, in line with the Company's strategy of delivering value through its own development and commercial capabilities as well as through external collaboration. MOVANTIK is a first-in-class once-daily oral peripherally-acting mu-opioid receptor antagonist (PAMORA) for the treatment of opioid-induced constipation (OIC) in adults with chronic non-cancer pain. Under the terms of the agreement, Daiichi Sankyo Inc. will pay a $200 million up-front fee and subsequent sales-related payments of up to $625 million. AstraZeneca will be responsible for manufacturing, will book all sales and will make sales-related commission payments to Daiichi Sankyo, Inc. Both companies will be jointly responsible for commercial activities.

Georgia Enters National Settlement with Daiichi Sankyo, Inc. to Resolve Kickback Allegations

Georgia Attorney General Sam Olens announced on March 19, 2015, that Georgia has joined the federal government, 48 states and the District of Columbia to reach an agreement with Daiichi Sankyo, Inc. The agreement settles allegations that the company violated the False Claims Act by providing kickbacks to physicians to induce them to prescribe the drugs Azor, Benicar, Tribenzor, and Welchol. Daiichi Sankyo will pay the states and the federal government $39 million in civil damages and penalties. Georgia's share of the settlement is $415,579.02, of which $162,015.12 will be returned directly to the Georgia Department of Community Health. The investigation and ensuing settlement stemmed from a false claims action filed by a former Daiichi Sankyo sales representative in 2010. The whistleblower alleged that between 2004 and 2011, physicians who participated in or claimed to participate in promotional speaker programs received honoraria payments, lavish meals and other remuneration as kickbacks for prescribing the drugs. The settlement agreement reimburses the federal government and the participating states for damages that were assessed in accordance with the amounts that Daiichi Sankyo expended on each speaker program for each fiscal year. Additionally, as part of the settlement, Daiichi Sankyo has agreed to enter into a corporate integrity agreement with the Department of Health and Human Services, Office of Inspector General, which obligates Daiichi Sankyo to undertake substantial internal compliance reforms for the next five years.

Missouri to Receive $112,000 in Multistate Medicaid Fraud Settlement with Daiichi Sankyo, Inc

Attorney General Chris Koster announced Missouri will receive $112,000 for its Medicaid program following a settlement that 49 states and the federal government reached with Daiichi Sankyo, Inc. The settlement follows allegations the company used lavish meals and speaker program honoraria as kickback vehicles to induce physicians to prescribe the drugs Azor, Benicar, Tribenzor, and Welchol. As a result of the settlement, Daiichi Sankyo will pay the states and the federal government a total of $10 million in civil damages and penalties, half of which will go to the states' Medicaid programs based on the level of activity Daiichi conducted in each state. The investigation began following a whistleblower's complaint that the company's Medicaid claims for the drugs were illegal because they resulted from kickbacks that Daiichi Sankyo provided to physicians who prescribed the drugs. The kickbacks took the form of honoraria payments, meals, and other remuneration to physicians who participated, or claimed to have participated, in Physician Opinion & Discussion programs. The settlement agreement reimburses the federal government and the states for damages that were assessed in accordance with the amounts that Daiichi Sankyo spent on each specific speaker program for each fiscal year. The total settlement is $10 million, with the states' share at $5 million. Missouri's share is $302,658.61, of which $112,562.74 stays with the state. In addition, Daiichi Sankyo has agreed to enter into a Corporate Integrity Agreement with the federal Department of Health and Human Services, Office of Inspector General (HHS-OIG), which obligates Daiichi Sankyo to undertake substantial internal compliance reforms for the next five years.

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