Sumitomo Pharma restructures, brings US, Swiss units under direct control
Sumitomo Pharma (TSE:4506) announced a capital restructuring to directly manage its North American business. The company will acquire shares of Sumitomo Pharma America, Inc. (SMPA) and Sumitomo Pharma Switzerland GmbH (SMPS) from its subsidiary, Sumitomo Pharma UK Holdings, Ltd. (SMPUK). This move aims to strengthen Sumitomo Pharma's oversight of its North American operations, which are heavily supported by SMPA's key products. The in-kind distribution is expected to be effective in late March 2025. While SMPA’s net assets are currently negative $454.963 million, the company generated $880.687 million in revenue in the year ending March 2024. Similarly, SMPS reported negative net assets of $1,084,495 million, with revenue of $127,354 million for the same period. Sumitomo Pharma expects a minor impact on its consolidated financial results from this restructuring.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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