King and Wyeth restructure Altace deal

US drugmakers King Pharmaceuticals and Wyeth Pharmaceuticals, a division of Wyeth, say that they have entered into an amended and restated co-promotion Agreement regarding the former's Altace (ramipril), an angiotensin-converting enzyme inhibitor. Effective January 1, 2007, King will assume full responsibility for the selling and marketing of Altace. For the remainder of 2006, the Wyeth sales force will continue to promote the product with King; and Wyeth will receive a fee thereafter through 2010.

King and Wyeth each reached the conclusion that the restructuring is mutually beneficial based on a review of each company's long-term business strategies and objectives.

"Through this successful collaboration, Altace, King's flagship cardiovascular product, has grown into the leading branded ACE inhibitor, with net sales increasing from $122.0 million in 1999 to $554.0 million in 2005," stated Brian Markison, King's chief executive. "King was a much different company when it originally entered into the co-promotion arrangement, with approximately 200 sales representatives in June 2000. Today, our selling platform is more than 1,000 individuals strong, with deep and experienced coverage in primary care," he added.