TAP tapped by Shire for Lialda co-promote
Financial terms of the deal were not disclosed however Shire said in published reports it plans to compensate TAP based on its success under the co-promotion agreement.
The deal will add over 500 TAP field sales representatives to Shire's existing Lialda sales force, which already consists of about 120 reps.
TAP Pharmaceutical, based in Lake Forest, IL, is a joint venture between Abbott and Takeda Pharmaceutical of Osaka, Japan. Takeda announced plans earlier this month to end its collaboration with Abbott and dissolve TAP. Following the dissolution, Takeda will continue to promote Lialda, Shire said.