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AbbVie Inc.

Drug Names(s): Niacin extended-release/simvastatin, KS-01-019

Description: Simcor is a combination of two cholesterol-fighting ingredients: extended-release niacin (Niaspan) and simvastatin (Zocor).

Niacin is a B-complex vitamin that improves the lipid profile, with a greater effect on HDL cholesterol and triglycerides than LDL. The mechanism by which Niaspan alters lipid profiles has not been well defined. It may involve agonism of the niacin receptor GPR109A (HM74A), which inhibits the release of free fatty acids from adipose tissue, though other mechanisms may also be responsible (such as inhibition of diacylglycerol acyltransferase 2 [DGAT2] in hepatocytes and different effects on HDL metabolism).

The statin Simvastatin inhibits 3-hydroxy-3-methylglutaryl coenzyme A (HMG-CoA) reductase, an enzyme that is needed by the body to make cholesterol.

Deal Structure: In December 2006, Abbott Laboratories closed its acquisition of Kos Pharmaceuticals.

In October 2007, Solvay Pharmaceuticals entered into an agreement granting Solvay select co-promotion rights in the United States for Abbott's SIMCOR. Under the terms of the agreement, Solvay will provide sales support in the United States, contribute to development and promotional expenses and be compensated based on product sales. Specific financial terms were not disclosed.

In September 2009, Solvay announced that its Board of Directors has decided to sell its entire pharmaceutical business to Abbott for a total Entreprise Value of about EUR 5.2 billion. This includes a purchase price of EUR 4.5 billion in cash and additional potential payments of up to EUR 300 million if certain milestones are met between 2011 and 2013. The acquisition was completed in February 2010.

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