Pharmaceutical companies Eli Lilly and Kowa Pharmaceuticals have entered an agreement to commercialize Livalo (pitavastatin, Kowa), a statin used to treat primary hyperlipidemia and mixed dyslipidemia in the U.S. market.
Under the terms of agreement, Montgomery, Ala.-based Kowa will receive an upfront undisclosed disbursement from Lilly, and both companies will share development and marketing costs of the product.
In addition, Kowa will record all U.S. sales of the drug and be required to pay Lilly an escalating co-promotion fee based on the products annual net sales.
According to Indianapolis-based Lilly, Livalo was already marketed in Japan, South Korea, Thailand and China and when it was approved by the FDA in August 2009. In 2008, global sales for the statin reached $380 million U.S.
In addition, Lilly has acquired an exclusive license from Kowa to expand Livalo to Latin American markets, including Mexico, Central America and South America.