Kos Pharmaceuticals and Takeda Pharmaceuticals reach agreement to co-promote Niaspan and Advicor
Kos Pharmaceuticals and Takeda Pharmaceuticals have reached a three-year agreement to co-promote Kos' Niaspan and Advicor in the U.S. market. The agreement adds more than 1,000 Takeda sales representatives to the existing Kos sales force to detail the two products developed by Kos for treating cholesterol disorders. The increased promotional effort is expected to significantly enhance the value of Kos' cholesterol franchise within the U.S., the largest cholesterol market in the world. For Takeda, the agreement fills current sales force capacity while allowing the company to continue to grow its franchise product, Actos.
The co-promotion arrangement has a three-year term commencing January 2004 and provides for residual payments to Takeda after the three years, if the parties do not renew the agreement.