Ono Pharma Establishes 10 Billion Yen Reinsurance Unit in Hawaii, Expands Global Presence.

Ono Pharmaceutical is establishing a 10 billion yen reinsurance unit, Ono Global Reinsurance, in Hawaii. The unit will provide reinsurance services for Ono Pharmaceutical's insurance business. The company is also expanding its drug development and commercialization efforts with a strategic agreement with Vertex Pharmaceuticals to develop and commercialize Povetacicept in Japan and South Korea. Ono Pharmaceutical has also reported positive results from a pivotal trial in US patients with relapsed or refractory PCNSL.