Transformational Transaction Diversifies Cosette’s Business to Accelerate Future Growth
BRIDGEWATER, NJ – JANUARY 18, 2022: Cosette Pharmaceuticals, Inc., a New Jersey-based specialty pharmaceutical company, announced today that it has closed a transaction to acquire the US sales and distribution rights to eight branded commercial products from leading Japanese pharmaceutical company, Daiichi Sankyo Company, Ltd (4568:JP) and affiliates. The transaction adds eight prescription products focused on cardiovascular indications to Cosette’s current portfolio of over forty-five commercial products:
- BENICAR® (olmesartan medoxomil)
- BENICAR HCT® (olmesartan medoxomil/hydrochlorothiazide)
- WELCHOL® (colesevelam HCL) tablets
- WELCHOL® (colesevelam HCL) Oral Suspension
- AZOR® (amlodipine/olmesartan medoxomil)
- TRIBENZOR® (olmesartan medoxomil/amlodipine/hydrochlorothiazide)
- EFFIENT® (prasugrel)
- EVOXAC® (cevimeline HCL)
“This transformative acquisition represents a significant expansion and diversification of Cosette’s portfolio and business,” said Apurva Saraf, Cosette’s President and CEO. “We look forward to build on this transaction and successfully acquire and integrate important product portfolios in the future, and to continue to make these critical medications available for patients and prescribers.”
“As part of our 2030 vision of becoming a global top 10 leader in oncology, we are shifting our structure to focus on our oncology portfolio in the U.S., while ensuring these legacy medicines continue to be available to the patients who rely on them,” said Ken Keller, President & CEO, Daiichi Sankyo, Inc. “We are proud and thankful of the effort by our teams at Daiichi Sankyo for their dedication to patients and their providers and look forward to a smooth transition with Cosette.”
The agreement outlines a 30-month transition period during which Daiichi Sankyo and Cosette Pharmaceuticals will transfer responsibilities for the manufacture, supply and commercialization of these products, including quality assurance, pharmacovigilance and regulatory matters.
According to IQVIA™, U.S. annual sales for the acquired products for the 12 months ended November 2021 were approximately $123 million. No financial details will be disclosed.
Please see Package Insert (PI) for full prescribing information including complete safety information:
- BENICAR® (olmesartan medoxomil) Seefull prescribing information including boxed warning regarding fetal toxicity
- BENICAR HCT® (olmesartan medoxomil/hydrochlorothiazide) Seefull prescribing information including boxed warning regarding fetal toxicity
- WELCHOL® (colesevelam HCI) Tablets See full prescribing information
- WELCHOL® (colesevelam HCI) Oral Suspension See full prescribing information
- AZOR® (amlodipine/olmesartan medoxomil) Seefull prescribing information including boxed warning regarding fetal toxicity
- TRIBENZOR® (olmesartan medoxomil/amlodipine/hydrochlorothiazide) Seefull prescribing Information including boxed warning regarding fetal toxicity
- EFFIENT® (prasugrel) Seefull prescribing Information, including boxed warning regarding bleeding risk, and medication guide.
- EVOXAC® (cevimeline HCI) Seefull prescribing Information
Morgan Lewis & Bockius LLP served as legal counsel and BofA Securities served as exclusive financial advisor to Cosette Pharmaceuticals. Goldman Sachs & Co. LLC served as exclusive financial advisor to Daiichi Sankyo.
About Cosette Pharmaceuticals, Inc.:
Cosette Pharmaceuticals, Inc. is a US-based, fully integrated pharmaceutical company with capabilities in product development, manufacturing, and commercial operations. The current products focus on complex dosage forms including topical creams, ointments, oral liquids/solutions, suppositories, and injectables. Cosette has a long history of quality manufacturing, consistent supply, and commercialization success, including two sites (New Jersey and North Carolina) supported by ~450 dedicated employees across all functional areas. Cosette is backed by Avista Capital Partners, a healthcare focused private equity firm. For more information, please visit: www.cosettepharma.com and follow on LinkedIn.