NEW YORK, April 24 – Yamanouchi pharmaceuticals, Japan's third-largest drug maker, plans to spend 50 billion yen, or $411.8 million, on genomics in the next five years, Reuters reported from Japan on Tuesday.
This investment doubles the company’s recent genomics spending level of four to 5 billion yen in the past several years.
The Tokyo-based company said it hopes to invest in genomics in order to find new drug targets and to catch up with US rivals.
“Unless we invest (in genomes) now, there would be no future for Yamanouchi 10 years from now," Toichi Takenaka, the president of Yamanouchi, said, according to Reuters.
These investments would not only include internal R&D efforts, but also external collaborations.In June 2000, Yamanouchi partnered with GlaxoWellcome KK, Glaxo’s Japanese subsidiary, using microarray chips to discover disease-related genes in the Japanese population. The company also has been working since February 2000 on collaboration with the Hospital for Joint diseases at New York University Medical center focusing on identifying genes related to osteoarthritis.