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Daiichi Sankyo Co., Ltd.
Drug Names(s): colesevelam hydrochloride, Cholestagel, Lodalis (Canada)
Description: The active ingredient of WelChol is colesevelam, a polymer resin that binds bile acids, including glycocholic acid, the major bile acid in humans. WelChol is approved for administration alone or in combination with an HMG-CoA reductase inhibitor, also known as a statin, as adjunctive therapy to diet and exercise for the reduction of elevated LDL cholesterol in patients with primary hypercholesterolemia.
Deal Structure: Sankyo Pharma, Inc. (U.S. subsidiary of Tokyo-based Sankyo Co., Ltd.) has been marketing WelChol compound in the United States since its launch in September 2000. Genzyme acquired royalty rights when it acquired GelTex, the originator of the drug (the original agreement between GelTex and Sankyo was made on December 23, 1999).
In October 2010, Sanofi-aventis announced it has commenced a tender offer for all outstanding shares of common stock of Genzyme for $69 per share, net to the seller in cash, without interest and less any required withholding taxes. In April 2011, Sanofi-aventis announced that it successfully completed its exchange offer for all outstanding shares of common stock of Genzyme Corporation.
Valeant Pharmaceuticals acquired the rights to Lodalis for the Canadian market from Genzyme.
Partners: Sanofi Valeant Pharmaceuticals International, Inc.
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