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Ergomed sets up new PrimeVigilance subsidiary in Japan
26th Apr 2021 08:24
(Sharecast News) - Pharmaceutical industry services provider Ergomed said on Monday that its PrimeVigilance business has established a new legal entity and a regional office in Japan.
Ergomed stated the new subsidiary company, trading as PrimeVigilance Japan KK, was based in Tokyo and offered a "comprehensive range" of pharmacovigilance services, including a dedicated Japanese safety database.
The AIM-listed group added that the expansion provided existing and prospective international PrimeVigilance clients with the opportunity to extend their product coverage into "the strategically important Japanese pharmaceutical market", the fourth largest globally after the US, the EU and China, and also provided Ergomed the opportunity to provide "high-quality specialist services" to domestic Japanese companies, opening up a new market.
Chairman Dr Miroslav Reljanović said: "With a solid base of international clients in Japan, Ergomed is establishing its own pharmacovigilance and medical information infrastructure to serve current and future clients and further strengthen our global operational and commercial footprint in the strategically important Asia region.
"Following the two US acquisitions in 2020 of Ashfield Pharmacovigilance (now PrimeVigilance USA) and MedSource, this marks another major step in our strategy to establish Ergomed as a leading international pharmaceutical services specialist."
As of 0820 BST, Ergomed shares were up 1.81% at 1,150.50p.
Ergomed stated the new subsidiary company, trading as PrimeVigilance Japan KK, was based in Tokyo and offered a "comprehensive range" of pharmacovigilance services, including a dedicated Japanese safety database.
The AIM-listed group added that the expansion provided existing and prospective international PrimeVigilance clients with the opportunity to extend their product coverage into "the strategically important Japanese pharmaceutical market", the fourth largest globally after the US, the EU and China, and also provided Ergomed the opportunity to provide "high-quality specialist services" to domestic Japanese companies, opening up a new market.
Chairman Dr Miroslav Reljanović said: "With a solid base of international clients in Japan, Ergomed is establishing its own pharmacovigilance and medical information infrastructure to serve current and future clients and further strengthen our global operational and commercial footprint in the strategically important Asia region.
"Following the two US acquisitions in 2020 of Ashfield Pharmacovigilance (now PrimeVigilance USA) and MedSource, this marks another major step in our strategy to establish Ergomed as a leading international pharmaceutical services specialist."
As of 0820 BST, Ergomed shares were up 1.81% at 1,150.50p.