Kowa Research Europe Ltd. and Kowa Pharmaceutical Europe Co. Ltd. President Resigns, Board Appoints Successor

The KRE and KPE Boards have appointed Gilles J. Picard

WOKINGHAM, England, 15 November 2013:  Kowa Research Europe Ltd. (KRE) and Kowa Pharmaceutical Europe Co. Ltd. (KPE) announced today that Drummond Paris has resigned as President of the 2 Companies. The KRE and KPE Boards have appointed Gilles J. Picard as his successor as President of the Companies, effective immediately. Mr Paris will leave the Company at the end of year.

Mr. Paris joined KRE in February 2006 as President and served on the Board of Directors for both KRE and KPE and, was then appointed President of KPE in July 2008. During his tenure, Mr. Paris led both organisations and, successfully gained  Kowa's first marketing approval and launch in Europe and the Middle East with  Livazo® (pitavastatin).

"Drummond was instrumental in growing not only KRE and KPE's business but also developed the potential of our employees in Kowa to prepare for our future business expansion," said Torao Yamamoto, member of the Board of KRE and KPE and Vice President of Kowa Company Ltd. "The Board would like to thank Drummond for his dedicated 7 years' service and commitment to the Company."

Mr. Picard was previously Vice President of Asia, Australia, Africa and Middle East, for Abbvie, Singapore where he led organisational change, business strategy development and business expansion.

"I am honoured and excited about the opportunity to lead KRE and KPE through its next phase of growth. I look forward to working with all of Kowa's talented and dedicated employees to help build profitable growth producing value for all of the company's constituents - stakeholders, customers, and employees" said Mr. Picard.

About LIVAZO

LIVAZO (pitavastatin) is a HMG-CoA reductase inhibitor indicated for patients with primary hyperlipidemia and mixed dyslipidemia as an adjunctive therapy to diet to reduce elevated TC, LDL-C, Apo B, TG, and to increase HDL-C. LIVAZO is predominantly metabolized via glucuronidation and is only minimally metabolized by CYP system, which may help reduce its potential for CYP-mediated drug-drug interactions.

LIVAZO, also known as LIVALO and ALIPZA in some markets, has been available in Japan since 2003 and is available in South Korea, Thailand, China, Taiwan, Indonesia , the US, Spain, Portugal, Switzerland, Ukraine, Lebanon, Jordan, Mexico, Colombia and Brazil. It is approved in Australia and an application for licence has been filed in Central and South America.

About Kowa

Kowa Company, Ltd. (KCL) is a privately held multinational company headquartered in Nagoya, Japan. Established in 1894, KCL is actively engaged in various manufacturing and commercial activities in the fields of pharmaceutical, life science, information technology, textiles, machinery and various consumer products. KCL's pharmaceutical division was founded in 1947, and is focused on cardiovascular therapeutics, with sales of the company's flagship product, pitavastatin (known as LIVALO, LIVAZO and ALIPZA in different markets) totalling $572 million in Japan fiscal year ending March 2013.

Kowa Research Europe Ltd. (KRE), established in 1999 in the United Kingdom, is responsible for European clinical trials for Kowa's strategic global pharmaceutical development.

Kowa Pharmaceutical Europe Co. Ltd. (KPE), established in 2000, is a specialty pharmaceutical company located in Wokingham, UK, focused primarily on cardiometabolic therapeutics. Working in harmony with KRE, these European pharmaceutical divisions of Japanese Kowa Company, Ltd. are committed to ground-breaking research, development and marketing to ensure quality products are made available to people around the world, enabling them to enjoy a better standard of health and a more comfortable life.

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