Takeda and Pfizer to Co-Promote Takeda's Actos® (Pioglitazone HCl) for the Treatment of Type 2 Diabetes in China
OSAKA, Japan & NEW YORK--(BUSINESS WIRE)--Takeda Pharmaceutical Company Limited ("Takeda") and Pfizer Inc. ("Pfizer") announced that they have entered into an agreement under which Pfizer in China will co-promote Takeda's Actos® (pioglitazone HCl) with Tianjin Takeda Pharmaceuticals in China. The exclusive co-promotion agreement will build on the current sales capability for Actos in China by increasing the number of medical representatives supporting the sales and marketing of the product and expanding the product reach utilizing the territory coverage of Pfizer in China, the largest multinational pharmaceutical company in China. Pfizer's Chinese affiliate will receive a fixed ratio of Actos net sales.
Actos, for the treatment of type 2 diabetes, has been sold in China since 2004 by Tianjin Takeda Pharmaceuticals, a joint venture of Takeda Pharmaceutical Company Limited and Tianjin Lisheng Pharmaceutical Co., Ltd., a Chinese company.
Currently the world's fifth largest pharmaceutical market, China is expected to be the third largest market by 2011. According to the International Diabetes Federation, the diabetes epidemic has the greatest potential to increase in China, because of its population size, rapid urbanization and economic expansion.
"Takeda has a significant opportunity to increase our presence in China, and we are pleased to be partnering with Pfizer to make Actos even more widely available to patients in China," said Alan MacKenzie, executive vice president, international operations, Takeda Pharmaceuticals International, Inc. "We are committed to contributing to the health of people in China through a strong sales and marketing framework that provides enhanced access to our products for patients and healthcare providers, and we look forward to further expanding our talent base in China to realize this goal."
"The combination of Takeda's industry leading product, backed by compelling clinical evidence and Pfizer's strong capability and coverage in China creates a winning partnership", said Ian Read, senior vice president and group president, Pfizer Worldwide Biopharmaceutical Businesses. "According to the International Diabetes Federation, China is estimated to have more than 50 million diabetics by 2025, and we are delighted to partner with Takeda to provide these people with the opportunity to live healthier lives. Pfizer is committed to helping the Chinese Government address its top public health priorities in an innovative, socially responsible and commercially viable manner."
About Takeda Pharmaceutical Company Limited
Located in Osaka, Japan, Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to striving toward better health for individuals and progress in medicine by developing superior pharmaceutical products. Additional information about Takeda is available through its corporate Web site, www.takeda.com.
About Pfizer Inc.: Working together for a healthier worldTM
At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world's best-known consumer products. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more about our commitments, please visit us at www.pfizer.com.