Howard Solomon, Chairman and CEO of Forest, commented: "We have enjoyed a very fruitful partnership with Daiichi Sankyo since our initial collaboration of Benicar which began in 2002. Our decision to reallocate resources to our currently marketed products causes us to forego the opportunity to continue to participate in the promotion of Daiichi Sankyo's excellent product AZOR."
Solomon continued, "However, Daiichi Sankyo and Forest's partnership will continue for another six years during which Forest will have a residual participation in Benicar and Benicar HCT profits, but will not be actively promoting those products. The result of terminating Forest's active promotion of both Benicar and AZOR will make available to Forest the equivalent of an additional 500-person sales force which Forest requires for the support of its proprietary products. We greatly admire Daiichi Sankyo, and we have both benefited from its creative product development, skillful marketing, and the highest standards of ethical partnership."
Daiichi Sankyo President and CEO Joseph P. Pieroni said, "Our first co-promotion agreement with Forest provided us with important additional resources to build our franchise of Benicar and Benicar HCT into significant products in the antihypertensive market while we built our own sales force. Our second co-promotion collaboration for AZOR allowed us to quickly and comprehensively educate the medical community about this new combination antihypertensive. Now we can take over full responsibility for the continued success of these brands."
AZOR was approved by the US Food and Drug Administration September 26, 2007. Forest will continue to co-promote AZOR until June 30, 2008. Health care providers with questions regarding AZOR or any Daiichi Sankyo product should call Daiichi Sankyo at 877 4DSPROD (437-7763).
About Forest Labora
|SOURCE Forest Laboratories, Inc.; Daiichi Sankyo, Inc.|
Copyright©2008 PR Newswire.
All rights reserved