On January 18, 2022 Cosette Pharmaceuticals, Inc., a New Jersey-based specialty pharmaceutical company, reported 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 (Press release, Cosette Pharmaceuticals, 18 18, 2022, https://www.businesswire.com/news/home/20220118005370/en/%C2%A0Cosette-Pharmaceuticals-Acquires-Rights-to-Eight-Branded-Products-from-Daiichi-Sankyo [SID1234605656]). The transaction adds eight prescription products focused on cardiovascular indications to Cosette’s current portfolio of over forty-five commercial products:

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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.