30 September 2019 | News
Medicure International Inc.has acquired the ownership of ZYPITAMAGTM (pitavastatin) tablets, from Cadila Healthcare Ltd., India ("Zydus") for US and Canadian markets
Medicure Inc. a cardiovascular pharmaceutical company, is pleased to announce that through its subsidiary, Medicure International Inc., it has acquired the ownership of ZYPITAMAGTM (pitavastatin) tablets, from Cadila Healthcare Ltd., India ("Zydus") for US and Canadian markets. Under terms of the agreement, Zydus will receive an upfront payment of U.S. $5,000,000 and U.S. $2,000,000 in deferred payments to be made over the next four years, as well as contingent payments on achievement of milestones and royalties related to net sales.
Medicure previously had acquired U.S. marketing rights with a profit-sharing arrangement. With this acquisition Medicure retains all profits, with full control of marketing and pricing negotiation.
ZYPITAMAGTM is a HMG-CoA reductase inhibitor indicated for adult patients with primary hyperlipidemia or mixed dyslipidemia as an adjunctive therapy to diet, to reduce elevated total cholesterol (TC), low-density lipoprotein cholesterol (LDL-C), apolipoprotein B (Apo B), triglycerides (TG), and to increase high-density lipoprotein cholesterol (HDL-C) (see additional safety information provided below).
ZYPITAMAGTM was approved in 2017 by the U.S. Food and Drug Administration for sale and marketing in the United States and was launched by Medicure in the second quarter of 2018 through a license agreement it had entered into with Zydus.
"This acquisition of ZYPITAMAGTM fits well with Medicure's mission of being a significant cardiovascular company focused on the U.S. market," commented Medicure's CEO, Dr. Albert D. Friesen. "We look forward to growing the ZYPITAMAGTM brand as part of our portfolio of cardiovascular products."