Takeda Canada has reacquired the Canadian marketing rights for its oral diabetes treatment Actos from Eli Lilly's Canadian arm. The drugmaker licensed the rights to Lilly under a worldwide agreement in 1999. Financial details of the buy-back were not disclosed.
Takeda's Canadian unit was launched back in March and the drugmaker plans to use Actos to establish its commercial presence in the country. "It also underscores Takeda's ongoing efforts to reinforce our global operations and build a stronger presence in North America," said Daaron Dohler, general manager at Takeda Canada. Japan-based Takeda Pharmaceutical is also buying back the commercial rights to Actos in six other countries, including Norway and Sweden. The company already sells Actos in the U.S., Japan and most European countries.
Actos, which received Canadian approval in 2000, treats Type 2 diabetes. The drug was boosted last week by a study comparing Actos with GlaxoSmithKline's Avandia. Researchers examining Canadian health records found that rival Avandia drug carried more heart risks than Actos.
- here's the Takeda release