IR News

Dec. 15, 2022Print(PDF/127KB)Corporate

Sumitomo Pharma Announces Divestiture of LUNESTA to Woodward Pharma Services LLC

Sumitomo Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Hiroshi Nomura) announced today that its U.S. subsidiary Sunovion Pharmaceuticals Inc. (hereinafter, "Sunovion") has entered into a definitive agreement to divest its rights to LUNESTA® (generic name: eszopiclone) in all countries, except Canada, to Woodward Pharma Services LLC (Head Office: Wixom, Michigan, U.S.) and the divestiture has been completed.

Through the divestiture of these rights, Sumitomo Pharma Group will strategically reallocate management resources to medium- and long-term growth areas with the intention to improve profitability.

The divestiture will be recorded by Sumitomo Pharma as other operating income in the third quarter of the fiscal year ending March 31, 2023 and this has already been factored into the financial forecast for this fiscal year.

Reference
About LUNESTA®
LUNESTA® (eszopiclone) is a non-benzodiazepine type GABAA agonist (non-benzodiazepine sedative hypnotic) indicated for the treatment of insomnia. Symptoms of insomnia include trouble falling asleep and waking up often during the night. LUNESTA® was developed by Sunovion and launched in the U.S. in 2005.

About Woodward Pharma Services LLC
Woodward Pharma Services LLC is a specialty pharmaceutical company headquartered in Wixom, Mich, U.S., focused on acquiring, licensing, and commercializing branded and generic prescription drugs for the U.S. Market. The Company has a diverse portfolio of products distributed across multiple channels. For more information, please visit www.woodwardpharma.com.