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.