Eli Lilly and Chugai to stop co-marketing of Evista in Japan
The Japanese subsidiary of US drug major Eli Lilly (NYSE: LLY) and Roche’s (ROG: SIX) majority-owned Japanese affiliate Chugai Pharmaceutical (TYO: 4519) have agreed to terminate the agreement regarding co-marketing of Evista (raloxifene), a treatment for osteoporosis in postmenopausal women, as of December 31, 2012.
Lilly will be solely responsible for the distribution and commercialization of Evista in Japan from January 2013. Although no official reason has been disclosed for dropping their co-promotion, observers have cited “change priorities” and falling sales of the drug. For the third quarter of 2012, Evista generated sales of $247 million for Lilly, a drop of 9% on the like 2011 period.
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