Singapore: Japan's firm, Otsuka Pharmaceutical, has established a direct presence in Sydney, Australia, to bring innovative new medicines to patients in the country.

Otsuka is focused on the development of innovative new drugs for central nervous system disorders such as schizophrenia, depression, and Alzheimer's disease. There are an estimated 285,000 people in Australia with schizophrenia, one million with depression and 298,000 with dementia, a significant number of whom have dementia of the Alzheimer's type.

The Australian drug market has experienced single-digit percentage growth in the past several years and was estimated at approximately $13 billion.

Mr Kazushi Takemoto, managing director, Otsuka Australia Pharmaceutical commented, "Otsuka is pleased and honoured to be a participant in the Australian healthcare sector. We will strive to make a positive contribution with our products in areas of critical, unmet patient need. Our opening in Australia, which is Otsuka's 27th affiliate outside Japan, is an important milestone for Otsuka as the company continues to expand and fulfil its aim to help ease the burden of diseases on people around the globe."