BRIEF—Daiichi Sankyo and GSK dissolve Japan Vaccine

Shares of Japanese pharma major Daiichi Sankyo were down 5.3% at 4,226 yen today, after it announced that Japan Vaccine, its joint venture with GlaxoSmithKline, will be dissolved.

Japan Vaccine was established in April 2012 as a JV between Daiichi Sankyo and GSK with the aim of contributing to the medical care though developing and selling prophylactic vaccines in Japan by combining the respective strengths of the two companies in the vaccines area.

Since its establishment Japan Vaccine has achieved tangible results, enabling access to a variety of vaccines, especially for infants, and the market situation has improved over the last few years.

However, in consideration of changes in the Japan Vaccine business situation, both parent companies believe they can better accomplish their mission to deliver vaccines to the Japanese market through separate operations.

Daiichi Sankyo and GSK have therefore mutually agreed to dissolve Japan Vaccine, and will focus on building their respective vaccine businesses separately to further contribute to public health in Japan.

The timing of the dissolution and the transition of the business to the respective parent companies will be announced later once they have been decided.