Taiho Pharmaceutical and sanofi-aventis have entered into a licensing agreement for TS-1, an anticancer agent developed by Taiho Pharmaceutical. Under the agreement terms, sanofi-aventis will receive the rights to develop and
commercialize the agent worldwide except in Japan and some Asian countries. Sanofi-aventis
will make an upfront payment, milestone payments for development and royalties
on futures sales to Taiho Pharmaceutical.