Novo Nordisk And Connaught Replace JV
Novo Nordisk of Denmark's Canadian subsidiary and Canada's Connaught Laboratories have announced that they are replacing their joint venture of over 10 years, Connaught Novo Nordisk, with a distribution agreement.
The deal becomes effective immediately, and means that Connaught will receive a sum and percentage fee for distributing Novo Nordisk's diabetes care products over an eight-year period. Full financial details of the deal were not disclosed. The new agreement allows Novo Nordisk to consolidate its various pharmaceutical businesses in Canada under one company, Novo Nordisk Canada.
The joint-venture company had been established in Canada in 1983 for the distribution of insulin and other diabetes products. However, Novo Nordisk says that with the shift to the use of a broader range of human insulin products in Canada, much of the manufacturing activities are now conducted at Novo Nordisk in Denmark.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze