Daiichi Sankyo harnesses 'old' R&D to strike cancer drug gold

Market cap doubles on surprise breakthrough by a specialist in lifestyle diseases

20200127N Daiichi Sankyo

Daiichi Sankyo's expertise in chemical synthesis played a key role in the development of a promising cancer drug. © Reuters

NORIYUKI TAKADA, YUKIHIRO KAWANA, YOSHINARU SAKABE, Nikkei staff writers

TOKYO -- Daiichi Sankyo, a Japanese drugmaker that has not had a blockbuster product for nearly a decade, is surging in market value, joining the 5 trillion yen ($46 billion) club that also includes such marquee names as Nintendo and Honda Motor.

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