| Sunovion Pharmaceuticals Inc. | |
| Type: | Subsidiary |
| Industry: | Pharmaceuticals |
| Key People: | Antony Loebel (President and CEO) |
| Products: | Latuda Aptiom Kynmobi Lonhala Magnair Lunesta |
| Parent: | Sumitomo Pharma |
| Homepage: | http://www.sunovion.com |
| Foundation: | 1984 |
| Location: | Marlborough, Massachusetts, United States |
On July 1, 2023, Sunovion Pharmaceuticals Inc. became part of Sumitomo Pharma America, Inc.,[1] a biopharmaceutical company focused on delivering therapeutic and scientific breakthroughs in areas of critical patient need spanning psychiatry and neurology, oncology, urology, women's health, rare disease, and cell and gene therapies.
Sunovion was founded as Sepracor, Inc. in 1984 by Timothy J. Barberich, Steve Matson, and Bob Bratzler. Sepracor completed its initial public offering in 1991, trading on NASDAQ under the ticker SEPR. On October 12, 2010, Sepracor, Inc. was acquired by and became a standalone subsidiary of Sumitomo Pharma of Japan (then known as Sumitomo Dainippon Pharma). In April 2023, Sumitomo Pharma announced the combination of its U.S. subsidiaries, including Sunovion, to form Sumitomo Pharma America (SMPA).[2]
Sepracor completed its initial public offering in 1991 at a market cap of $160M. The company's initial focus was on the separation and purification of isomers and active metabolites. The strategy was to present larger pharmaceuticals with patented, purified active ingredients for expiring products. In 1993, Marion Merrell Dow, now a part of Sanofi, partnered with Sepracor to develop a purified version of its antihistamine, Seldane, after the latter was required to carry a warning about potentially fatal cardiac arrhythmia. This purified compound would later be marketed as Allegra, but Sepracor would not profit significantly from its launch, a result of less-than favorable partnership terms.
Sepracor's subsequent products were focused on the treatment of central nervous system and respiratory disorders, under the direction of Gunnar Aberg and John McCullough. The primary source of its revenue in the late 1990s - early 2000s was the approximately $600 million annually from its Xopenex franchise of drugs. The insomnia drug Lunesta (eszopiclone) was approved by the US Food and Drug Administration (FDA) in December 2004 and launched in April 2005. In 2006, the FDA approved Sepracor's drug Brovana to treat chronic obstructive pulmonary disease (COPD).[3]
In 2008, Bial agreed with the company to produce and market its antiepileptic drug Aptiom at Sepracor's facilities and supervised by Bial.[4] Aptiom subsequently received FDA approval in 2013 to treat partial onset seizures.
In 2010, Latuda, an atypical antipsychotic drug, received FDA approval for the treatment of schizophrenia and in 2013, received a secondary approval for the treatment of depressive episodes associated with Bipolar I Disorder.
Sepracor was acquired by then-Sumitomo Dainippon Pharma in 2010 for $2.6B.[5] Sepracor would become an indirect, wholly owned subsidiary of Dainippon Sumitomo Pharma and renamed to Sunovion.
On April 3, 2023, Sunovion Pharmaceuticals, an indirect, wholly owned subsidiary of Sumitomo Pharma Co. Ltd, announced that it will combine with Sumitomo Pharma’s other affiliate companies Sumitomo Pharma America Holdings, Inc., Sumitovant Biopharma Ltd., Myovant Sciences, Inc., Urovant Sciences, Inc., Enzyvant Therapeutics, Inc., and Sumitomo Pharma Oncology, Inc. to form Sumitomo Pharma America, Inc. (SMPA), effective July 1, 2023.[6]
The following is an illustration of the company's major mergers and acquisitions and historical predecessors: