Warner-Lambert Plans JV With Sankyo For Troglitazone And Other Prods

US drugmaker Warner-Lambert and Japanese pharmaceutical company Sankyo have signed a letter of intent to set up a joint venture partnership in the USA. The two firms plan to enter into an agreement with the JV to copromote Sankyo's diabetes drug troglitazone (being codeveloped with the US firm) and W-L's cardiovascular agent Accupril (quinapril).

This JV will be named Sankyo/Parke-Davis and will be owned equally, with each party appointing three members of the governing board. Day-to-day management will be the responsibility of a president agreed to by both parties; the first president to be appointed is Joseph Pieroni, who is currently vice president global marketing planning at W-L's Parke-Davis pharmaceutical division.

A sales force will be established by the JV ahead of the expected launch of troglitazone in the USA, and W-L will provide certain services to assist in the successful start-up of the new operation, according to W-L. The two companies will share expenses and profits equally.