Sepracor Inc. and Dainippon Sumitomo Pharma Co., Ltd. (DSP) today
announce the resignation of Adrian Adams as President and Chief
Executive Officer and Director of Sepracor and as Executive Officer of
DSP, effective immediately, and the appointment of Saburo Hamanaka as
Chairman of Sepracor and Executive Officer of DSP. Sepracor and DSP also
announce the planned merger of Sepracor and DSP’s subsidiary, Dainippon
Sumitomo Pharma America, Inc. (DSPA), to be completed on April 1, 2010,
with Sepracor as the surviving company.
“It is with great regret that I have accepted Mr. Adams’ resignation,
effective today, from Sepracor and the DSP organization”
“It is with great regret that I have accepted Mr. Adams’ resignation,
effective today, from Sepracor and the DSP organization,” said Masayo
Tada, President and Chief Executive Officer of DSP. “In the past nine
months, I have come to know Adrian very well and have the utmost regard
for him as a person and as a leader. Adrian has fulfilled his commitment
to put in place the key structural changes necessary within four months
of the acquisition of Sepracor and ahead of expectations. Sepracor has
benefitted greatly from Adrian’s leadership, and the organization has
significantly strengthened its position as a world-class specialty
pharmaceutical company under his direction. We wish him much success as
he pursues his desire to lead another publicly traded U.S.
pharmaceutical company.”