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Cosette Pharma Acquires the US sales and Distribution Rights of Daiichi Sankyo

Cosette Pharma of New Jersey has acquired the U.S. sales and distribution rights to eight cardiovascular medications from Daiichi Sankyo, a move toward diversity that it hopes will serve as a springboard for future portfolio expansion and growth. The company, which was founded in 2018 when private equity investor Avista Capital Partners purchased G&W Laboratories’ dermatology division, now has over 45 products, the majority of which are generic topical therapies.

The branded pharmaceuticals Cosette obtains as part of the deal are becoming obsolete and are facing generic competition. Former bestsellers Benicar, a beta blocker blood pressure drug, and Welchol, a cholesterol therapy, are the most well-known. Azor, Tribenzor, and Effient are the others, all of which were approved more than a decade ago. According to IQVIA, sales of the acquired drugs in the United States totaled $123 million in the 12 months ending in November.

The terms of the therapies’ sale were not disclosed. Daiichi Sankyo will hand over manufacturing, supply, and commercialization of the products to Cosette for a 30-month transition period. Cosette dermatology products are made in Lincolnton, North Carolina, and South Plainfield, New Jersey, respectively. The divestiture was requested by Daiichi Sankyo, Japan’s second-largest pharmaceutical business, because it saw greater profitable potential in developing cancer therapies.

Benicar had $2.6 billion in sales before losing patent protection in 2016, accounting for over a quarter of Daiichi’s revenue. Daiichi agreed to pay $300 million to settle 2,300 cases related to the gastrointestinal side effects of its cardiac medications Benicar, Azor, and Tribenzor in 2017. Daiichi’s action is comparable to AstraZeneca’s sale of older respiratory treatments Eklira and Duaklir to Covis Pharma for $270 million two months ago.

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