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Lilly, Kowa and Kowa Pharmaceuticals America Announce Co-Promotion and Licensing Agreement
Date:12/23/2009

INDIANAPOLIS and MONTGOMERY, Ala., Dec. 23 /PRNewswire-FirstCall/ -- Eli Lilly and Company (NYSE: LLY), Kowa Company, Limited, and Kowa's U.S. subsidiary, Kowa Pharmaceuticals America, Inc., today announced that Lilly and Kowa Pharmaceuticals America have entered into a co-promotion agreement in the United States to commercialize LIVALO® (pitavastatin). Lilly and Kowa have also entered into a licensing agreement in Latin America. LIVALO is a statin approved by the U.S. Food and Drug Administration (FDA) in August 2009 for the treatment of primary hyperlipidemia and mixed dyslipidemia.

Under the terms of the agreements, Kowa Pharmaceuticals America will receive an undisclosed upfront payment. Lilly and Kowa Pharmaceuticals America will co-promote LIVALO in the U.S. market, with both companies providing sales force resources and sharing development and marketing costs. Kowa Pharmaceuticals America will record all U.S. sales of LIVALO and will pay Lilly an escalating co-promotion fee based on the level of annual net sales. In addition, Lilly has acquired an exclusive license from Kowa to commercialize LIVALO in Latin American markets, including Mexico, Central America and South America. Additional deal terms were not disclosed.

"We are pleased to partner with Kowa to help bring this new statin to market and provide patients a new option to help control their cholesterol," said John Lechleiter, Ph.D., Lilly chairman and chief executive officer. "Our co-promotion arrangement in the U.S. and licensing arrangement in Latin America will allow Lilly to expand our product offerings in the cardiovascular therapeutic area and more efficiently utilize our existing cardiovascular sales force."

"Physicians are challenged by some patients who do not always do well on their current statin therapy, and who also mu
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SOURCE Eli Lilly and Company
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