This week, SpeakPharma interviews Yoshiaki Miyamoto, CEO of Summit Pharmaceuticals Europe (SPE), a wholly owned subsidiary of Sumitomo Corporation. SPE specializes in sourcing and supplying pharmaceutical raw materials, such as active pharmaceutical ingredients (APIs) and intermediates, to its clients. The company also helps its clients obtain all trade-related clearances, while leveraging its global network to stay informed and adapt to the changing market situations. Miyamoto discusses how SPE leverages its decades-long experience, global network and expertise in regulatory matters to meet the needs of its customers. Excerpts:
Summit Pharmaceuticals Europe (SPE) was established in January 1997. It was spun out of the chemical department of Sumitomo Corporation of Europe (popularly known as SCEU). Though all local SCEU offices, including those in London, Milano and Madrid, were dealing with pharmaceutical raw materials at that time, each of these were different organizations, with different reporting lines. In 1997, all European offices were brought under SPE in order to have a common strategy and deliver more effective service to our customers and suppliers.
We source and supply pharmaceutical raw materials, such as active pharmaceutical ingredients (APIs) and intermediates, to our clients. We also help ensure a steady supply of these raw materials for the smooth development of new projects of our clients.
We work with a diverse range of international producers of APIs and intermediates, who have been carefully selected and have a long history of working with the Sumitomo Corporation. Owing to our partnerships with European and Asian pharmaceutical and chemical-pharmaceutical producers, we offer a wide range of APIs and intermediates, along with regulatory support. For the benefit of our customers, we follow the whole distribution process as efficiently as possible.
Our high-quality service is built on three core strengths. Our first key strength lies in our vast experience and expertise in the pharmaceutical market. With a team of over 200 professionals in major pharmaceutical markets around the world, including the EU, Japan, China, India, and the US, we have built a strong global reputation during the course of over 40 years. So far, we have done business with over 500 suppliers and 300 customers globally.
By leveraging the extensive global network of Sumitomo Corporation and SPE, we connect our customers with reliable and cost-effective suppliers. In addition, we use our global network to promote the latest technologies and products manufactured by our customers to potential clients all over the world.
Our second key strength is regulatory support provided by our parent company in Japan. This support allows us to seek accreditation of foreign manufacturers, registration of drug master files in Japan (J-DMF), and assessment of GMP conformity on behalf of our partners. This professional service has helped our group develop strong relationships with manufacturers and earned us a positive reputation among Japanese pharmaceutical customers.
Our Japanese office boasts of around 20 professionals who work across the API laboratory, warehouse and regulatory affairs teams. With extensive experience in custom manufacturing, compound licensing opportunities and research alliance, the specialists at SPE can meet the needs of all customers in the pharmaceutical field.
A manufacturing firm intending to manufacture drugs in a foreign country and export them to Japan is required to get accredited by the Japanese government as an accredited foreign manufacture (AFM). We have supported many companies to emerge as AFMs.
Our third key strength is our strong financial background.
Sumitomo Corporation has been a Fortune 500 company for 27 years and has 890 subsidiaries in 79 countries across the world with US$ 80 billion in consolidated assets. As its wholly owned subsidiary, SPE has leveraged the network strength of Sumitomo Corporation.
The vision of Sumitomo Corporation is to “be a global organization that constantly stays a step ahead in dealing with change, creates new value, and contributes broadly to society.” We have fully integrated this vision into our operations.
In order to be swift in responding to changing circumstances, we leverage our experience and our global network. Our local offices keep us informed of the latest developments, identify new prospects and evaluate potential risks.