Daiichi Sankyo to close U.K. subsidiary

Daiichi Sankyo Co. Ltd. this week announced that it will close Daiichi Sankyo Development Limited (DSD), its U.K. subsidiary.

The decision to close DSD, which is located in Gerrards Cross, England, is part of Daiichi Sankyo’s plan to restructure and augment its research and development program’s efficiency. The plan was first announced in late 2015.

DSD currently has approximately 80 employees, who are involved in pharmaceutical development in Europe. When DSD closes, Daiichi Sankyo will transfer necessary production capabilities to Daiichi Sankyo Pharma Development, its American subsidiary located in Edison, New Jersey, and to Daiichi Sankyo Europe GmbH, its European subsidiary located in Munich, Germany.

The impact that closing DSD will have on Daiichi Sankyo’s financial standing has not yet been released to the public, but the company says it will be part of the forthcoming announcement of its FY2015 business results.