Sunovion
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Pharmaceuticals |
| Founded | 1984 |
| Headquarters | Marlborough, Massachusetts, United States |
Key people | Antony Loebel (President and CEO) |
| Products | Latuda Aptiom Kynmobi Lonhala Magnair Lunesta |
| Parent | Sumitomo Pharma |
| Website | http://www.sunovion.com |
On July 1, 2023, Sunovion Pharmaceuticals Inc. became part of Sumitomo Pharma America, Inc.,[1] a biopharmaceutical company focused on delivering therapeutic and scientific breakthroughs in areas of critical patient need spanning psychiatry and neurology, oncology, urology, women's health, rare disease, and cell and gene therapies.
Sunovion was founded as Sepracor, Inc. in 1984 by Timothy J. Barberich, Steve Matson, and Bob Bratzler. Sepracor completed its initial public offering in 1991, trading on NASDAQ under the ticker SEPR. On October 12, 2010, Sepracor, Inc. was acquired by and became a standalone subsidiary of Sumitomo Pharma of Japan (then known as Sumitomo Dainippon Pharma). In April 2023, Sumitomo Pharma announced the combination of its U.S. subsidiaries, including Sunovion, to form Sumitomo Pharma America (SMPA).[2]
Company history
[edit]Sepracor completed its initial public offering in 1991 at a market cap of $160M. The company's initial focus was on the separation and purification of isomers and active metabolites. The strategy was to present larger pharmaceuticals with patented, purified active ingredients for expiring products. In 1993, Marion Merrell Dow, now a part of Sanofi, partnered with Sepracor to develop a purified version of its antihistamine, Seldane, after the latter was required to carry a warning about potentially fatal cardiac arrhythmia. This purified compound would later be marketed as Allegra, but Sepracor would not profit significantly from its launch, a result of less-than favorable partnership terms.
Sepracor's subsequent products were focused on the treatment of central nervous system and respiratory disorders, under the direction of Gunnar Aberg and John McCullough. The primary source of its revenue in the late 1990s – early 2000s was the approximately $600 million annually from its Xopenex franchise of drugs. The insomnia drug Lunesta (eszopiclone) was approved by the US Food and Drug Administration (FDA) in December 2004 and launched in April 2005. In 2006, the FDA approved Sepracor's drug Brovana to treat chronic obstructive pulmonary disease (COPD).[3]
In 2008, Bial agreed with the company to produce and market its antiepileptic drug Aptiom at Sepracor's facilities and supervised by Bial.[4] Aptiom subsequently received FDA approval in 2013 to treat partial onset seizures.
In 2010, Latuda, an atypical antipsychotic drug, received FDA approval for the treatment of schizophrenia and in 2013, received a secondary approval for the treatment of depressive episodes associated with Bipolar I Disorder.
Acquisition by Sumitomo Dainippon Pharma
[edit]Sepracor was acquired by then-Sumitomo Dainippon Pharma in 2010 for $2.6B.[5] Sepracor would become an indirect, wholly owned subsidiary of Dainippon Sumitomo Pharma and renamed to Sunovion.
Combination to form Sumitomo Pharma America
[edit]On April 3, 2023, Sunovion Pharmaceuticals, an indirect, wholly owned subsidiary of Sumitomo Pharma Co. Ltd, announced that it will combine with Sumitomo Pharma’s other affiliate companies Sumitomo Pharma America Holdings, Inc., Sumitovant Biopharma Ltd., Myovant Sciences, Inc., Urovant Sciences, Inc., Enzyvant Therapeutics, Inc., and Sumitomo Pharma Oncology, Inc. to form Sumitomo Pharma America, Inc. (SMPA), effective July 1, 2023.[6]
Products Under Development
[edit]- Ulotaront (SEP-856) – phase III
- Aramisulpride:esamisulpride (85:15 ratio) (SEP-4199) – phase III
List of mergers and acquisitions
[edit]The following is an illustration of the company's major mergers and acquisitions and historical predecessors:
- Sunovion (Previously-known as Sepracor)
- IBF Biotechnics (Acq 1991)
- New England Pharmaceuticals (Acq 1995)
- Oryx Pharmaceuticals (Acq 2008)
- Elevation Pharmaceuticals (Acq 2012)
- Cynapsus Therapeutics (Acq 2016)
References
[edit]- ^ "Sumitomo Pharma America Launches as New Combined Organization with Expanded Scale, Resources & Capabilities". Yahoo Finance. July 10, 2023. Archived from the original on July 13, 2023. Retrieved July 13, 2023.
- ^ Armstrong, Annalee (April 3, 2023). "Sumitomo Pharma tidies up 7 units into one combined US entity in spring cleaning". Fierce Biotech. Retrieved July 13, 2023.
- ^ "FDA Approves Sepracor, Inc.'s BROVANA(TM) (Arformoterol Tartrate) Inhalation Solution For Chronic Obstructive Pulmonary Disease". BioSpace. October 9, 2006. Archived from the original on February 19, 2023. Retrieved February 10, 2020.
- ^ "Bial – caring for your health".[dead link]
- ^ "Sunovion Pharmaceuticals Inc. announces company name change" (PDF). Sunovion. October 12, 2010. Archived from the original (PDF) on March 4, 2016. Retrieved October 27, 2010.
- ^ "Sumitomo Pharma Subsidiary Companies in the U.S., Including Sunovion, to Combine and Form Sumitomo Pharma America". BUSINESS WIRE (Press release). April 3, 2023. Archived from the original on July 13, 2023. Retrieved July 13, 2023.
External links
[edit]- Companies formerly listed on the Nasdaq
- Biotechnology companies of the United States
- Biotechnology companies established in 1984
- Biopharmaceutical companies
- Pharmaceutical companies of the United States
- Companies based in Middlesex County, Massachusetts
- Marlborough, Massachusetts
- Pharmaceutical companies established in 1984
- 2010 mergers and acquisitions
- American subsidiaries of foreign companies