Forest Laboratories Enters Collaboration on Bystolic(R) and Savella(R) in Canada
Thursday, November 11, 2021 3:00 PM

Related Stories



Nov. 11, 2010 (Business Wire) -- Forest Laboratories, Inc. (Forest) (NYSE: FRX) today announced that Forest Laboratories Holdings Limited, its wholly owned subsidiary, has entered into a definitive collaboration and distribution agreement for Bystolic® (nebivolol) and Savella® (milnacipran HCl) in Canada with Janssen Pharmaceutica, NV and Janssen Pharmaceutical respectively, on behalf of Janssen Inc., which will market the products in Canada.

Under the terms of the agreement, Janssen Pharmaceutica NV and Janssen Pharmaceutical will pay Forest an undisclosed signing fee, milestones and sales-related royalties in exchange for exclusive sublicenses to Janssen Inc. for the commercialization of Bystolic® and Savella® in Canada.

Janssen Inc. is headquartered in Toronto and markets a broad range of medications used in psychiatry, dementia, attention deficit hyperactivity disorder, psoriasis, pain management, women’s health, infectious disease, anemia, oncology, and virology. Janssen Inc. will assume responsibility for the Canadian regulatory approval and commercialization of Bystolic® and Savella® in Canada. Forest will have the opportunity to co-promote at any time after the first anniversary of regulatory approval for either product.

Over the next few years, Forest plans to establish a wholly owned Canadian affiliate that will exercise the co-promotion rights for Bystolic® and Savella® in Canada, and that will also take responsibility for the future regulatory filings and commercialization of its pipeline products in Canada. Current late-stage products for which Forest holds Canadian rights include Teflaro™ (ceftaroline), linaclotide, F-2695 and cariprazine.

Howard Solomon, Chairman and Chief Executive Officer of Forest Laboratories said, "We are pleased to have entered into this collaboration for the commercialization of Bystolic® and Savella® in Canada. This collaboration is a significant and valuable first step towards establishing a Forest presence in Canada. We look forward to the expansion of Forest Laboratories into Canada.”

Bystolic® (nebivolol) was approved by the U.S. Food and Drug Administration for the treatment of hypertension (chronic high blood pressure). Savella® was approved by the U.S. Food and Drug Administration for the management of fibromyalgia.

About Forest Laboratories

Forest Laboratories’ (NYSE: FRX) longstanding global partnerships and track record developing and marketing pharmaceutical products in the United States have yielded its well-established central nervous system and cardiovascular franchises and innovations in anti-infective medicine. The Company’s pipeline, the most robust in its history, includes product candidates in all stages of development across a wide range of therapeutic areas. The Company is headquartered in New York, NY. To learn more, visit www.FRX.com.

Except for the historical information contained herein, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties, including the difficulty of predicting FDA approvals, the acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, the timely development and launch of new products, and the risk factors listed from time to time in Forest Laboratories' Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and any subsequent SEC filings.

Forest Laboratories, Inc.
Frank J. Murdolo Vice President - Investor Relations
212-224-6714
Frank.Murdolo@frx.com


(Source: Business Wire )
(Source: Quotemedia)
 

Sponsors

Symbol :

Advertisement

Market news:

  • Paris Vogue editor to leave after 10-year tenure Dec 18, 2021 03:56 AM

    • PARIS - Paris Vogue says its editor-in-chief, Carine Roitfeld, has decided to leave after a 10-year tenure in which the French fashion monthly became "a worldwide reference and indispensable magazine."
    • The magazine says on its Web site that Roitfeld's years as the top editor were marked by "constant growth" both in terms of circulation and advertising.
    • Xavier Romatet, the head of Conde Nast France, the French arm of the U.S. publishing house, said he "of course" regrets Roitfeld's decision to leave "even if I understand it."
      • James has triple-double, dominates again at MSG Dec 18, 2021 03:56 AM

        • NEW YORK - LeBron James always said he loved playing here.
        • James delivered another vintage performance at Madison Square Garden, scoring 32 points and finishing with his 30th career triple-double to help the Miami Heat beat the New York Knicks 113-91 for their 11th straight victory.
        • 6 jersey he hoped would belong to James - New York surged back to tie it at 57 at halftime.
          • $7.2B is recovered for Madoff's victims Dec 18, 2021 03:48 AM

            • NEW YORK - Many of Bernard Madoff's victims who thought they lost everything could get at least half their money back after the widow of a Florida philanthropist agreed Friday to return a staggering $7.2 billion that her husband reaped from the giant Ponzi scheme.
            • Picower was the single biggest beneficiary of Madoff's fraud.
            • He commended Picower's widow, Barbara, "for agreeing to turn over this truly staggering sum, which really was always other people's money."
              • Congress rushes to finish bills before holidays Dec 18, 2021 03:48 AM

                • WASHINGTON - Rushing to finish by Christmas, congressional Democrats worked Friday to secure Senate ratification of a new arms control treaty and to end the military's ban on openly gay service members as they neared the end of two tumultuous years of single-party government.
                • Legislation to keep the federal government running until mid- to late February was also on the agenda, a matter for negotiations with emboldened Republicans who will take control of the House and add to their numbers in the Senate come January.
                • He was looking for several more on his wish list - the arms control treaty and repeal of the military gay ban - to close out a politically tough year.
                  • Obama salutes spirit of compromise, signs tax bill Dec 18, 2021 03:48 AM

                    • WASHINGTON - President Barack Obama signed into law a huge, holiday-season tax bill extending cuts for all Americans on Friday, saluting a new spirit of political compromise as Republicans applauded and liberals seethed.
                    • The most significant tax legislation in nearly a decade will avert big increases that would have hit millions of people starting in two weeks on New Year's Day.
                    • "This is progress and that's what they sent us here to achieve," Obama said as a rare bipartisan assembly of lawmakers looked on at the White House.

                      More news


Advertisement

    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
jomariXXXXX CVG$0.31
XXXXXXXXXX RIMM$1.64
XXXXXXXXXX CRM$0.19
GEOXXXXX PAY$0.30
mrbilltraderXXXXX POT$1.59
XXXXXXXXXX OVTI$0.43
sam farahanXXXXX TECD$0.95
XXXXXXXXXX GSS$0.05
XXXXXXXXXX ABB$0.31
adfgafg ERTS$0.48