Oct. 03, 2017
Piedmont Animal Health
SUMITOMO CORPORATION MAKES STRATEGIC INVESTMENT IN PIEDMONT ANIMAL HEALTH
TOKYO and GREENSBORO, N.C, (U.S.), Oct. 3rd, 2017 –- The Life Science Division of Sumitomo Corporation and Piedmont Animal Health, a North Carolina-based pharmaceutical company that develops pioneering companion animal health products, jointly announce that Sumitomo has made a strategic equity investment in Piedmont. Alongside the equity investment, the two companies will expand their existing U.S.-Japan technology collaboration agreement to include Asia and other specific countries outside of Japan.
Technology development collaboration
“Sumitomo has been seeking to establish a development and marketing capability in the U.S. to better present Sumitomo as the global trading partner of choice for Japanese companies that specialize in animal health technology,” says Kazuhiko Ohno, assistant to the general manager of the Life Science Division at Sumitomo Corporation in Tokyo. “Piedmont has an excellent track record in developing and achieving clearance for both FDA- and EPA-regulated products, and offers the opportunity for an experienced and efficient path to U.S. commercialization for our partner companies in Japan.”
Roland Johnson, chairman and chief executive officer of Piedmont Animal Health, describes the expansion of the collaboration with Sumitomo as a natural progression of the business relationship established between Piedmont and Sumitomo over recent years.
“Japanese companies have long been innovators in discovering many of the most important anti-parasiticide molecules used around the world,” notes Johnson. “In our careers, our team members have had the fortunate opportunity to turn many of these molecules into top-selling medications such as heartworm disease preventatives for companion animals. We look forward to accessing future new molecules coming from Sumitomo’s Japanese partner relationships.”
Expanded horizon for Piedmont innovations
As part of the collaboration, Sumitomo will represent Piedmont’s innovative product development pipeline in Asia. “Piedmont has several ground-breaking products in development that target key therapeutic areas in companion animal health,” says Yasunori Ishibashi, general manager of Sumitomo Animal Health Science Department. “Japanese companies are very interested in accessing products from the U.S., but they need help from a global organization that understands their specific needs. Sumitomo is a trusted name in Japan, with a very long history in pharmaceuticals going back to our original founder over 400 years ago.”
Sumitomo Corporation (“SC”) is a leading Fortune 500 global trading and business investment company with 107 locations in 65 countries and 22 locations in Japan. The entire SC Group consists of more than 800 companies and nearly 70,000 personnel. SC conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in companies to promote greater growth potential. SC’s core business areas include Metal Products, Transportation and Construction Systems, Environment and Infrastructure, Media, Network, Lifestyle Related Goods and Services, Mineral Resources, Energy, and Chemical and Electronics.
About Piedmont Animal Health
■Sumitomo Corporation’s Material Issues
Sumitomo Corporation Group positions “Six Material Issues to Achieve Sustainable Growth with Society” as an important factor in developing business strategies and in the decision-making process for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This project especially contributes to “Establishing a Foundation for Comfortable and Enriching Lifestyles”