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    Cadila Healthcare to sell right of cholesterol-lowering drug Zypitamag for Rs 49 crore

    Farhat NasimWritten by Farhat Nasim Published On 2019-10-01T14:13:23+05:30  |  Updated On 16 Aug 2021 12:14 PM IST

    The company has entered into an asset purchase agreement to sell its right, title and interest in Zypitamag, along with applicable registrations and intangible assets relating to the product for US and Canada markets to drug firm Medicure, Cadila Healthcare said in a regulatory filing.


    New Delhi: Cadila Healthcare on Monday said it has inked a pact to sell rights of its cholesterol-lowering product Zypitamag in the US and Canada markets to Medicure lnc. for a total consideration of USD 7 million. Canada-headquartered Medicure had earlier acquired US marketing rights for the product with a profit-sharing arrangement with Cadila.


    The company has entered into an asset purchase agreement to sell its right, title and interest in Zypitamag, along with applicable registrations and intangible assets relating to the product for US and Canada markets to drug firm Medicure, Cadila Healthcare said in a regulatory filing.

    Also Read: Cadila Healthcare gets OAI letter from USFDA for Moraiya facility

    Under terms of the agreement, Cadila will receive an upfront payment of USD 5 million and USD 2 million in deferred payments to be made over the next four years, contingent payments on achievement of sales milestones and royalties on net sales, it added.


    "With this acquisition, Medicure retains all profits, with full control of marketing and pricing negotiation for USA and Canada markets," Cadila said.

    US Food and Drug Administration (USFDA) had approved Zypitamag in 2017. Medicure had launched the product in the US in the second quarter of 2018 through a license agreement it had entered into with Cadila.

    Also Read: Cadila Healthcare gets 14 USFDA observations for Moraiya plant
    BSECadilacadila agreementCadila Healthcarecadila paymentcholesterolcholesterol lowering drugMedicurepharmapharma newspharma news indiaUSUS Food and Drug AdministrationUSFDAZYPITAMAG
    Source : PTI

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    Farhat Nasim
    Farhat Nasim

      Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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