Daiichi Sankyo to Divest Certain Cardiovascular and Other Legacy Products to Cosette Pharmaceuticals in the United States, Shifting Focus to Oncology Portfolio

Rhea-AI Summary

Daiichi Sankyo has entered an agreement with Cosette Pharmaceuticals for the divestiture of rights to several U.S. medications, including AZOR and BENICAR. This move aligns with Daiichi's strategy to focus on patented drugs and oncology, aiming to become a top 10 global leader in oncology by 2030. The transition will take 30 months, ensuring that legacy medicines remain accessible to patients. No layoffs are anticipated at Daiichi as a result of this agreement.

Positive

• Divesture aligns with Daiichi's strategy to focus on oncology and patented drugs.
• Smooth transition planned to ensure continued access to legacy medicines.

Negative

• None.

• Agreement is part of Daiichi Sankyo’s five-year mid-term strategy to transform to a structure primarily focused on patented drugs

TOKYO & BASKING RIDGE, N.J.--(BUSINESS WIRE)-- Daiichi Sankyo Company, Limited and Daiichi Sankyo, Inc. (hereafter, Daiichi Sankyo) have entered into an agreement with Cosette Pharmaceuticals, Inc. whereby Daiichi Sankyo divested and Cosette acquired rights for manufacturing, commercialization, and certain other rights for the following products in the U.S.:

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

“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.”

“We are excited to continue to make available these important drug products to patients and prescribers for many years to come. We will work diligently with Daiichi Sankyo, the medical community and the distribution channel partners to ensure a seamless transition to Cosette,” said Apurva Saraf, President and CEO, Cosette Pharmaceuticals.

No other products are impacted by this agreement and no roles will be eliminated at Daiichi Sankyo related to this agreement. 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.

Important Safety Information

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

About Daiichi Sankyo

Daiichi Sankyo is dedicated to creating new modalities and innovative medicines by leveraging our world-class science and technology for our purpose “to contribute to the enrichment of quality of life around the world.” In addition to our current portfolio of medicines for cancer and cardiovascular disease, Daiichi Sankyo is primarily focused on developing novel therapies for people with cancer as well as other diseases with high unmet medical needs. With more than 100 years of scientific expertise and a presence in more than 20 countries, Daiichi Sankyo and its 16,000 employees around the world draw upon a rich legacy of innovation to realize our 2030 Vision to become an “Innovative Global Healthcare Company Contributing to the Sustainable Development of Society.” For more information, please visit www.daiichisankyo.us or www.daiichisankyo.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220117005379/en/

Media Contacts:

US:

Kim Wix

Daiichi Sankyo, Inc.

kwix@dsi.com

+1 908 992 6633 (office)

+1 908 656 5447 (mobile)

Japan:

Masashi Kawase

Daiichi Sankyo Co., Ltd.

kawase.masashi.a2@daiichisankyo.co.jp

+81 3 6225 1126 (office)

Investor Relations Contact:

DaiichiSankyoIR@daiichisankyo.co.jp

Source: Daiichi Sankyo

FAQ

What is the recent agreement involving Daiichi Sankyo and Cosette Pharmaceuticals?

Daiichi Sankyo has divested rights to several medications to Cosette Pharmaceuticals as part of a strategy shift.

What products did Daiichi Sankyo transfer to Cosette Pharmaceuticals?

Daiichi Sankyo transferred rights for products like AZOR, BENICAR, and EFFIENT.

How long is the transition period for the agreement between Daiichi Sankyo and Cosette?

The transition period for the agreement is set for 30 months.

What is Daiichi Sankyo's goal related to oncology by 2030?

Daiichi Sankyo aims to become a global top 10 leader in oncology by 2030.

Will there be layoffs at Daiichi Sankyo due to the agreement with Cosette?

No layoffs are expected at Daiichi Sankyo as a result of the agreement.