After U.S. job cuts, Sumitomo Pharma eyes layoffs in Japan

TOKYO -- Sumitomo Pharma is considering laying off employees in its home market of Japan as early as this fiscal year, new President Toru Kimura told Nikkei, as the loss of U.S. exclusivity rights on the Latuda schizophrenia drug drags down its earnings.

"The most important thing is to get our earnings to recover quickly," said Kimura, who assumed his post on Tuesday. "Once we decide on a restructuring plan, we'll implement it as soon as this fiscal year," he said.