Forest Laboratories, Inc.; Daiichi Sankyo, Inc.
Forest Laboratories, Inc. and Daiichi Sankyo, Inc. Announce the Termination of the AZOR Co-Promotion Agreement
Published in Lab Business Week, June 1st, 2008
Forest Laboratories, Inc. (NYSE:FRX), a U.S.-based pharmaceutical company, and Daiichi Sankyo, Inc. announced that they have terminated their co-promotion agreement for AZOR(TM)* (amlodipine and olmesartan medoxomil), Daiichi Sankyo's fixed-dose combination of two antihypertensives, the calcium channel blocker amlodipine besylate and the angiotensin receptor blocker olmesartan medoxomil. Forest will record a one-time charge of $44.1 million which is composed of a one-time payment to Daiichi Sankyo of $26.6 million related to the termination and $17.5 million related to the unamortized portion of the initial upfront payment.
The AZOR agreement is the second co-promotion...
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Source: Lab Business Week (2008-06-01)
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