Shire Pharmaceuticals Group plc announces that it has signed an agreement with Janssen Pharmaceutica N.V. to acquire the exclusive rights to Reminyl in the United Kingdom and Ireland for an undisclosed upfront cash payment.
Prior to the agreement, Shire and Janssen had joint responsibility for the marketing of the drug in the UK and Ireland. Under the terms of the new agreement Shire will assume full developmental and promotional rights to Reminyl in the UK and Ireland, increasing the company's focus and scope in this region. Janssen retains the rights elsewhere in the world.
The Janssen sales and marketing employees previously responsible for Reminyl in the UK and Ireland are offered the opportunity to transfer to Shire's employment. This will result in a simplified structure with Shire having one sales force and marketing development team for Reminyl in the UK and Ireland. The new arrangement will enable Shire to deploy more resource in support of Reminyl in anticipation of the expected launch of new formulations and indications for the brand.
Originally developed by Shire, Reminyl is one of the leading acetylcholinesterase inhibitor treatments for Alzheimer's disease. UK sales in 2003 were £7.9million, representing a 15 per cent market share. During this period, the UK market for Alzheimer's disease grew by 46 per cent to £53 million.
Says John Freeman, managing director of Shire's UK sales and marketing group: "We are now able to give a greater focus and streamlined marketing and development approach for Reminyl in the UK and Ireland, increasing the company's presence in this area, alongside our other brands. With the market for Alzheimer's treatments growing, and more and more data emerging demonstrating Reminyl's effectiveness in patients up to and beyond four years, we believe there is an excellent opportunity for us to maximise the potential of the product in these markets and reinforce Shire's role in helping the elderly population across the UK. This is good news for Shire, for patients and for their carers."