| Forest Laboratories and Daiichi Sankyo announce termination of Azor agreement | Posted on 13/05/2008 in Pharmaceutical Company Product News Forest Laboratories and Daiichi Sankyo have announced that they have terminated their co-promotion agreement for Azor (amlodipine and olmesartan medoxomil).
As a result of this decision Forest will record a one-off charge of $44.1 million (22.6 million pounds) consisting of a payment to Daiichi Sankyo of $26.6 million and $17.5 million relating to the unamortised portion of the upfront payment.
Forest said that the resources it had allocated to the co-promotion of Azor would be better used in providing additional support to its existing products on the market.
The drug is a fixed-dose combination of two antihypertensives from Daiichi Sankyo - a calcium channel blocker and angiotensin receptor blocker.
Howard Solomon, chairman and chief executive officer of Forest, said: "Our decision to reallocate resources to our currently marketed products causes us to forego the opportunity to continue to participate in the promotion of Daiichi Sankyo's excellent product Azor."
He added that the companies partnership would still continue for a further six years, with Forest retaining residual participation in Benicar and Benicar HCT profits without actively promoting them.
In May 2007, Daiichi Sankyo announced the first phase III study data for Azor, with the drug showing significant reductions in seated systolic and diastolic blood pressure in hypertension patients.Other news stories from 13/05/2008
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