Novartis terminates Femara deal with Chugai in Japan

Japanese drugmaker Chugai Pharmaceutical (TYO: 4519) and the local subsidiary of Swiss pharma giant Novartis (NOVN: VX) have agreed to terminate the agreement regarding co-marketing of the aromatase inhibitor Femara (letrozole)tablets, a treatment for breast cancer after menopause in Japan, as of January 31, 2016.

Novartis Pharma KK will be solely responsible for the distribution and commercialization of Femarain Japan from February 1, 2016. The companies first started co-marketing of the drug in 2006. No reason for the latest decision was provided.

Chugai, which is majority-owned by Swiss major Roche (ROG: SIX), and Novartis Pharma will cooperate to accomplish a smooth transition. During the transition period, both companies will maintain the same level of product supply and adequate commercial activities to satisfy any medical needs.