Abbott gets $100M under Simcor deal

As a result of last month's US Food and Drug Administration approval of Simcor (niaspan/simvastatin; Marketletter February 25), a fixed-dose combination lipid therapy, Belgian drugmaker Solvay has paid the drug's originator, Abbott Laboratories, a $100.0 million milestone, marking the start of their co-promotion accord.

Solvay was granted US rights for Simcor as a result of an agreement with the health care major signed last year (Marketletter October 29, 2007). Further to the $100.0 million capital investment, the Belgian firm will also start contributing to the commercial expenses of Sincor in the first quarter. "The treatment of cardiometabolic diseases is one of Solvay Pharmaceuticals' strategic therapeutic areas," said company chief executive Laurence Downey. "We are excited about the collaboration on Simcor, which extends Solvay's presence in the USA and builds on a long-standing partnership with Abbott on TriCor [fenofibrate, for the treatment of lipid disorders]," he added.