Tokyo, March 29, 2012 – Pfizer Japan Inc. (“Pfizer”) and Astellas Pharma Inc. (“Astellas”) today announced that the companies have agreed to continue and expand their excellent partnership built through Lipitor® (generic name: atorvastatin calcium hydrate), a hypercholesterolemia treatment (HMG-CoA reductase inhibitor), currently manufactured and distributed by Astellas and promoted jointly by Pfizer and Astellas in Japan, by partly revising a Development and Marketing Agreement for Lipitor (the “DMA”).
Pursuant to this agreement, the term of the DMA has been extended from July 2016 to March 2021. Additionally, certain financial terms of the DMA, including co-promotion fee rate from December 2011 to November 2013, have been revised. Astellas will pay an upfront payment of 1 billion yen to Pfizer. Also, upon this amendment, Astellas will not change its financial forecasts for the fiscal year ending March 31, 2012.
Pfizer and Astellas are committed to maximize the product value of Lipitor and further contribute to hypercholesterolemia treatment.
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