Japanese firms form company aimed at drug discovery

Two big Japanese drug companies, Takeda Pharmaceutical and Astellas Pharma, and a leading bank, Sumitomo Mitsui Banking, are creating a new company focused on accelerating early drug discovery. The yet-to-be-named firm will push innovative drug discovery programs originating in Japan into the global market. In the initial phase, the new company will collaborate with academia, drug companies, and start-ups across Japan.