Tokyo – February 16, 2011 – Astellas Pharma Inc. (TSE:4503,”Astellas”) announced today that its affiliate, Astellas Pharma US, Inc.(“Astellas Pharma US”) exercised its right under its agreement with co-promotion partner GlaxoSmithKline to assume full commercial responsibility in the US for VESIcare® (solifenacin succinate), a treatment for overactive bladder. After a transition period, which is expected to conclude no later than January, 2012, GlaxoSmithKline sales representatives will no longer co-promote VESIcare and all such promotional activities will be undertaken by Astellas Pharma US.
Astellas Pharma US (Former Yamanouchi Pharma America, Inc.) and GlaxoSmithKline entered into the VESIcare co-promotion agreement in August, 2003. VESIcare was launched in January 2005 and both companies have been co-promoting VESIcare in the U.S. market, resulting in the steady growth of VESIcare sales.
As consideration for its assumption of full commercial responsibility, Astellas will make certain payments to GlaxoSmithKline until 2015, when the original agreement was set to expire.
GlaxoSmithKline has been an instrumental partner for Astellas in this successful co-promotion since the company first introduced VESIcare into the marketplace. Astellas Pharma US will work with GlaxoSmithKline over the coming months to ensure a smooth and transparent transition.
