Valeant Pharmaceuticals International, Inc. announced that its subsidiary, Biovail Laboratories International SRL (BLS), has acquired the Canadian rights to Cholestagel (colesevelam), an oral bile acid sequestrant for hypercholesterolemia, from Genzyme Corporation (Genzyme). Genzyme will receive from BLS a $2 million upfront payment, to be followed by subsequent additional milestone payments totalling up to $7 million.

"Cholestagel is a strong addition to our Canadian franchise," said J Michael Pearson, chief executive officer. "While this compound is currently pending marketing approval from Health Canada, the use of Cholestagel has been shown to be effective as an adjunctive option in the treatment of high levels of cholesterol in the blood in the countries where it is currently marketed. This product will be promoted by our existing sales force in Canada and will be a complementary fit with our existing Tiazac XC promotions."

Colesevelam is a bile acid sequestrant administered orally. It is developed by Genzyme and marketed in the US by Daiichi Sankyo under the brand name WelChol and elsewhere by Genzyme under the tradename Cholestagel. Colesevelam is indicated as an adjunct to diet and exercise to reduce elevated low-density lipoprotein cholesterol (LDL-C) in patients with primary hyperlipidemia as monotherapy and combination therapy with a statin.

Unlike most other cholesterol-lowering agents, colesevelam is non-systemic, and therefore is not absorbed into the bloodstream. Colesevelam binds bile acids in the intestine, impeding their reabsorption. This process - called bile acid sequestration - results in an increased clearance of LDL-C from the blood. Colesevelam is also well-tolerated, with minimal gastrointestinal side effects similar to those seen with placebo, and has limited drug interactions.

Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics.