Daiichi Sankyo shuts down a German R&D shop

Daiichi Sankyo is closing up its German research outpost, shuttering the former U3 Pharma as it consolidates its global R&D presence. U3, located in Martinsried, employs about 40 people with a focus on antibody treatments for cancer. The group's work will transfer to Daiichi's biologics research outpost in Tokyo, the company said. The move comes as the Japanese drugmaker cuts costs around the globe, this year announcing plans to lay off about 1,200 U.S. workers as it shifts its focus from primary care drugs to specialty pharma. Daiichi acquired U3 in 2008 for about $235 million in cash. More