Daiichi buying Snow Brand pharma unit
Daiichi of Japan has entered into an agreement with the country's SnowBrand Milk regarding the transfer of the latter's pharmaceutical businesses to Daiichi by March 2002. The transfer should involve Snow Brand's pharmaceutical patents, life-science laboratory and US subsidiary SnowBrand Pharmaceuticals.
Under an existing agreement with the US arm of Snow Brand, Daiichi has been marketing Evoxac (cevimeline) for dry mouth associated with Sjogren's syndrome in the USA since March 2000, and Daiichi will have global rights to this product following the transfer. Daiichi will also obtain Snow Brand's new drugs, including hepapoietin for activating liver cell regeneration, Phase I trials of which have been completed in the USA.
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