- July 24, 2012
- Taiho Pharmaceutical Co., Ltd.
Taiho and Faes Farma (Spain) Enter into a License Agreement on Anti-Allergy Agent
Taiho Pharmaceutical CO., LTD. (Headquarters: Tokyo, President: Masayuki Kobayashi) has entered into a license agreement with Faes Farma S.A. (Headquarters: Leioa, Chairman & CEO Eduardo Fernández de Valderrama) covering the development and commercialization of bilastine, an anti-allergy product, for the Japanese market. Bilastine is a novel anti-allergy agent with anti-histamine activity.
With this agreement, Taiho receives a license to develop and commercialize bilastine in Japan, and Faes Farma receives an initial payment of € 10 m, as well as future payments in addition to royalties on sales in Japan. All development and marketing costs of bilastine in Japan will be covered by Taiho.
FAES FARMA Chairman and CEO Eduardo Fernández de Valderrama
"This agreement, comes as a long awaited reward to the research and financial efforts deployed with bilastine. Japan accounts for roughly one third of the world's sales of allergy products, and we are convinced that with Taiho we found the best partner for this market. Considered with the rest of licenses of bilastine signed altogether, they will allow Faes Farma to walk a path of strong growth in results, growth that will be sustained for the mid and long term.
Taiho Pharmaceutical President Masayuki Kobayashi
"We are very pleased to establish a partnership with Faes Farma, the leading Spanish pharmaceutical laboratories of innovative medicine. Allergy is one of the focused areas for Taiho Pharmaceutical and we believe that bilastine will contribute to the treatment of Japanese patients for allergic rhinoconjunctivitis and urticaria"
Bilastine, is an innovative anti-histamine product, fully developed by Faes for the treatment of symptoms of allergic rhinoconjunctivitis and urticaria. Bilastine has a unique safety profile, with the same efficacy as the best existing alternatives. Bilastine has obtained a market share of 16 % in Spanish market, after the first year, since approved in April 2011, and has been successfully launched in other countries such as France, Brazil, etc.The product has been licensed to major companies in different countries.
Faes Farma, is one of the leading Spanish pharmaceutical laboratories, focused on research, manufacture and commercialization of innovative medicines. With strong presence also in Portugal, Latin America and Africa, Faes Farma is now developing an intense process of internationalization. Bilastine shall be a key element in this process.
For more information about Faes, please visit the company's Web site at http://www.faes.es/.
Information in this news release was current as of the original release date.