Cosette Pharmaceuticals Acquires Rights to Eight Branded Products from Daiichi Sankyo

Rhea-AI Summary

Cosette Pharmaceuticals has acquired the US sales and distribution rights to eight branded cardiovascular products from Daiichi Sankyo. This strategic move expands Cosette's portfolio, which now includes over 45 commercial products. The transition, lasting 30 months, will see both companies manage the integration of these products, which generated approximately $123 million in US annual sales as of November 2021. Cosette aims to strengthen its market position while ensuring continued access to these vital medications for patients.

Positive

• Acquisition enhances Cosette's portfolio with eight new cardiovascular products.
• The transaction is expected to contribute approximately $123 million in annual sales.

Negative

• None.

 Transformational Transaction Diversifies Cosette’s Business to Accelerate Future Growth

BRIDGEWATER, N.J.--(BUSINESS WIRE)--

Cosette Pharmaceuticals, Inc., a New Jersey-based specialty pharmaceutical company, announced today that it has closed a transaction to acquire the US sales and distribution rights to eight branded commercial products from leading Japanese pharmaceutical company, Daiichi Sankyo Company, Ltd (4568:JP) and affiliates. The transaction adds eight prescription products focused on cardiovascular indications to Cosette’s current portfolio of over forty-five commercial products:

Cosette Pharmaceuticals Acquires Rights to Eight Branded Products from Daiichi Sankyo (Photo: Business Wire)

• BENICAR^® (olmesartan medoxomil)
• BENICAR HCT^® (olmesartan medoxomil/hydrochlorothiazide)
• WELCHOL^® (colesevelam HCL) tablets
• WELCHOL^® (colesevelam HCL) Oral Suspension
• AZOR^® (amlodipine/olmesartan medoxomil)
• TRIBENZOR^® (olmesartan medoxomil/amlodipine/hydrochlorothiazide)
• EFFIENT^® (prasugrel)
• EVOXAC^® (cevimeline HCL)

“This transformative acquisition represents a significant expansion and diversification of Cosette’s portfolio and business,” said Apurva Saraf, Cosette’s President and CEO. “We look forward to build on this transaction and successfully acquire and integrate important product portfolios in the future, and to continue to make these critical medications available for patients and prescribers.”

“As part of our 2030 vision of becoming a global top 10 leader in oncology, we are shifting our structure to focus on our oncology portfolio in the U.S., while ensuring these legacy medicines continue to be available to the patients who rely on them,” said Ken Keller, President & CEO, Daiichi Sankyo, Inc. “We are proud and thankful of the effort by our teams at Daiichi Sankyo for their dedication to patients and their providers and look forward to a smooth transition with Cosette.”

The agreement outlines a 30-month transition period during which Daiichi Sankyo and Cosette Pharmaceuticals will transfer responsibilities for the manufacture, supply and commercialization of these products, including quality assurance, pharmacovigilance and regulatory matters.

According to IQVIA™, U.S. annual sales for the acquired products for the 12 months ended November 2021 were approximately $123 million. No financial details will be disclosed.

Products:

Please see Package Insert (PI) for full prescribing information including complete safety information:

• BENICAR® (olmesartan medoxomil) See full prescribing information including boxed warning regarding fetal toxicity
• BENICAR HCT® (olmesartan medoxomil/hydrochlorothiazide) See full prescribing information including boxed warning regarding fetal toxicity
• WELCHOL® (colesevelam HCI) Tablets See full prescribing information
• WELCHOL® (colesevelam HCI) Oral Suspension See full prescribing information
• AZOR® (amlodipine/olmesartan medoxomil) See full prescribing information including boxed warning regarding fetal toxicity
• TRIBENZOR® (olmesartan medoxomil/amlodipine/hydrochlorothiazide) See full prescribing Information including boxed warning regarding fetal toxicity
• EFFIENT® (prasugrel) See full prescribing Information, including boxed warning regarding bleeding risk, and medication guide.
• EVOXAC® (cevimeline HCI) See full prescribing Information

Advisors

Morgan Lewis & Bockius LLP served as legal counsel and BofA Securities served as exclusive financial advisor to Cosette Pharmaceuticals. Goldman Sachs & Co. LLC served as exclusive financial advisor to Daiichi Sankyo.

About Cosette Pharmaceuticals, Inc.:

Cosette Pharmaceuticals, Inc. is a US-based, fully integrated pharmaceutical company with capabilities in product development, manufacturing, and commercial operations. The current products focus on complex dosage forms including topical creams, ointments, oral liquids/solutions, suppositories, and injectables. Cosette has a long history of quality manufacturing, consistent supply, and commercialization success, including two sites (New Jersey and North Carolina) supported by ~450 dedicated employees across all functional areas. Cosette is backed by Avista Capital Partners, a healthcare focused private equity firm. For more information, please visit: www.cosettepharma.com and follow us on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220118005370/en/

Serge Ilin-Schneider: bd@cosettepharma.com

Kian Kazemi: sales@cosettepharma.com

Lynn Munroe: EGCPR@egcgroup.com

Source: Cosette Pharmaceuticals, Inc.

FAQ

What products did Cosette Pharmaceuticals acquire from Daiichi Sankyo?

Cosette Pharmaceuticals acquired eight branded cardiovascular products, including BENICAR® and EFFIENT®.

How much in annual sales do the acquired products generate?

The acquired products generated approximately $123 million in US annual sales as of November 2021.

What is the duration of the transition period for the acquisition?

The transition period for the acquisition is 30 months.

What strategic benefits does Cosette seek from this acquisition?

Cosette aims to diversify its portfolio and ensure vital medications remain available to patients.

How does this acquisition align with Cosette's long-term goals?

This acquisition supports Cosette's vision to become a top 10 leader in oncology by expanding its product offerings.