BRIEF—Medicure gains full US ownership of Zypitamag

Canadian cardio pharma specialist Medicure has acquired the ownership of Zypitamag (pitavastatin) tablets, from India’s Cadila Healthcare for US and Canadian markets.

Under terms of the agreement, Zydus will receive an upfront payment of $5 million and $2 million in deferred payments to be made over the next four years, as well as contingent payments on achievement of milestones and royalties related to net sales.

Medicure previously had acquired US marketing rights with a profit-sharing arrangement.

With this acquisition Medicure retains all profits, with full control of marketing and pricing negotiation.

"This acquisition of Zypitamag fits well with Medicure's mission of being a significant cardiovascular company focused on the US market," commented Medicure's chief executive Dr Albert Friesen, adding: "We look forward to growing the Zypitamag brand as part of our portfolio of cardiovascular products."