Otsuka Pharmaceutical signs five-year extension of MOU with South Korea Ministry of Health and Welfare

Otsuka, in accordance with the MOU, has engaged in a wide range of capital expenditures for the manufacture of pharmaceutical products, including investment in research and development of approximately KRW99bn over a period of five years.

This has included advancement of innovative pharmaceutical product development through cooperation with local medical institutions led by the company’s local subsidiary, Korea Otsuka Pharmaceutical Company, as well as the arrangement of production facilities for investigational drugs.

Starting in 2010, Otsuka conducted a human resource development program for pharmaceutical research and development between Japan and South Korea, dispatching instructors, and inviting 29 pharmacy students from South Korea for training at Otsuka Pharmaceutical’s facilities in Japan.

With the goals to advance the development of pharmaceutical products, facilitate production systems to ensure reliable supplies, and contribute to the further development of human resources, both parties agreed to renew the MOU.

Otsuka Pharmaceutical believes that South Korea is a vital hub in Asia for the advancement of the pharmaceutical industry and so has conducted development of anti-cancer drugs and a drug for the treatment of Tourette syndrome in South Korea through the Korea Otsuka Pharmaceutical. With respect to Tourette syndrome, Otsuka was the first company to do pediatric clinical studies, and in November 2011, ABILIFY was approved to treat this syndrome.