Daiichi Sankyo, Forest to Co-Promote Hypertension Drug
Daiichi Sankyo and Forest Laboratories have signed a letter of intent to co-promote experimental hypertension drug Azor in the U.S., the companies announced.
The drug, a fixed-dose combination of amlodipine besylate and olmesartan medoxomil, is currently under FDA review. Daiichi Sankyo filed a new drug application in November 2006 and expects the agency to make a decision by late September, company President and CEO Joseph Pieroni said.
Forest will give Daiichi Sankyo an upfront payment of $20 million under the agreement, according to the companies. In exchange, Forest will receive a yearly payment based on the product’s net sales, and Daiichi Sankyo will pay Azor’s marketing and development expenses.
The agreement will last six years, with the companies co-promoting the product during the first three years and Daiichi Sankyo promoting the product alone during the final three.
The companies’ current agreement to co-promote Daiichi Sankyo’s Benicar (olmesartan medoxomil), one of the drugs in Azor, is about to expire, Daiichi Sankyo said.