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Bayer HealthCare buys European marketing rights for telmisartan from GlaxoSmithKline
By Angela McDaniels
Seattle, Jan. 3 - Bayer HealthCare said it has purchased from GlaxoSmithKline the European rights to market Boehringer Ingelheim's blood pressure treatment telmisartan (Pritor and PritorPlus), which had sales of roughly €65 million in 2005.
Through the acquisition, Bayer HealthCare gains the right to market the drug in Italy, Spain, France, Greece, Portugal and 22 smaller European markets. The company said it currently promotes telmisartan under the brand names Kinzalmono and Kinzalkomb in markets across Europe including Germany, Belgium, the Netherlands, Switzerland and Finland under a co-marketing agreement with Boehringer Ingelheim established in 2002.
GlaxoSmithKline will continue to promote telmisartan as Pritor under a co-marketing agreement with Boehringer Ingelheim in five countries.
Financial terms were not disclosed.
"The acquisition of Pritor provides an excellent strategic fit for Bayer HealthCare's pharma business. The transaction allows us to utilize our excellent market knowledge and experience with the product in already existing Telmisartan markets," Wolfgang Plischke, president of Bayer HealthCare's pharmaceuticals division, said in a company news release.
Telmisartan, an angiotensin II receptor blocker, is a long-acting anti-hypertensive treatment that provides 24-hour blood pressure control. Sales of angiotensin II receptor blockers are growing at a rate of 15% per year, the company said, making them the fastest-growing and the most competitive segment in the European hypertension market.
The drug was discovered and developed by Boehringer Ingelheim, which is based in Ingelheim, Germany, and markets the compound under the trademark Micardis in 84 countries including the United States and Japan.
Bayer HealthCare, a subgroup of Bayer AG, is based in Leverkusen, Germany, and develops genetically produced medicines, over-the-counter products, diagnostic products and prescription drugs.
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