Daiichi Sankyo Announces Write-off Loss on Trade Rights Related to Consolidated Subsidiary Plexxikon Inc.’s Anticancer Agent Zelboraf
2015-04-28 · Daiichi Sankyo · original daiichisankyo.com ↗
For Immediate Release Company name: DAIICHI SANKYO COMPANY, LIMITED Representative: Joji Nakayama, Representative Director, President and CEO (Code no.: 4568, First Section, Tokyo Stock Exchange) Please address inquiries to Noriaki Ishida, Executive Officer, Vice President, Corporate Communications Department Telephone: +81-3-6225-1126 http://www.daiichisankyo.com Daiichi Sankyo Announces Write-off Loss on Trade Rights Related to Consolidated Subsidiary Plexxikon Inc.’s Anticancer Agent Zelboraf Tokyo, Japan (April 28, 2015) – Daiichi Sankyo Company, Limited (hereafter, Daiichi Sankyo) today announced that it will book an write-off loss on trade rights related to consolidated subsidiary Plexxikon Inc.’s anticancer agent Zelboraf. Details are as follows. 1. Details of write-off loss (1) Date of loss April 28, 2015 (2) Reason for loss A decision was made to post an write-off loss on trade rights related to anticancer agent Zelboraf, owned by Plexxikon Inc., a consolidated subsidiary of Daiichi Sankyo, based on an examination of future recoverability following an observable decline in profitability. (3) Impact on consolidated financial results Daiichi Sankyo will book an write-off loss of \35 billion under cost of sales in the consolidated financial results for fiscal 2014 (IFRS). 2. Outline of subsidiary Company name: Plexxikon Inc. Location: 91 Bolivar Drive, Berkeley, CA 94710, USA Representative: Gideon Bollag, Ph.D., Chief Executive Officer Business description: Research and development focused on cancer, inflammation, cardio-renal disease, and the central nervous system Paid-in-capital: US $1.00
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