Kowa strikes pitavastatin alliance for new Asian markets
This article was originally published in Scrip
Mitsubishi Tanabe Pharma (MTP) is to develop and commercialise Kowa's hypolipaemic pitavastatin in Taiwan and Indonesia, on undisclosed financial terms.
The deal is the latest in a string of licensing tie-ups for the diversified Japanese firm's top prescription product, which has been marketed as Livalo in Japan since 2003 under an alliance with Daiichi Sankyo. Sales in this market last fiscal year were around ¥34 billion ($357 million).
The HMG-CoA reductase inhibitor is already sold through licensees in South Korea (Choongwae Pharma) and Thailand (Biopharm Chemical) and was launched last month in China, where Kowa is promoting it.
It has also just been approved in the US (scripnews.com, August 5th, 2009), where it will be sold through Kowa Pharmaceuticals America, formerly ProEthic Pharmaceuticals, which Kowa acquired last year.
MTP already has a presence in the cardiovascular area and well-established subsidiary operations in Taiwan, where it has a sales force of around 60, and in Indonesia, where it employs more than 140 reps.
Pitavastatin is expected to be approved next year in Europe, where it will be co-marketed by Recordati, and a Canadian filing is being prepared by licensee Solvay.