Eli Lilly and Co. (LLY), Kowa Company, Limited, and Kowa's U.S. subsidiary, Kowa Pharmaceuticals America, Inc., announced that Lilly and Kowa Pharmaceuticals America have entered into a co-promotion agreement in the United States to commercialize LIVALO (pitavastatin). Lilly and Kowa have also entered into a licensing agreement in Latin America. LIVALO is a statin approved by the U.S. Food and Drug Administration in August 2009 for the treatment of primary hyperlipidemia and mixed dyslipidemia.
As per the terms of the agreements, Kowa Pharmaceuticals America will receive an undisclosed upfront payment. Lilly and Kowa Pharmaceuticals America will co-promote LIVALO in the U.S. market, with both companies providing sales force resources and sharing development and marketing costs.
Kowa Pharmaceuticals America will record all U.S. sales of LIVALO and will pay Lilly an escalating co-promotion fee based on the level of annual net sales. In addition, Lilly has acquired an exclusive license from Kowa to commercialize LIVALO in Latin American markets, including Mexico, Central America and South America. Additional deal terms were not disclosed.
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