Novartis buys rights to cholesterol treatment
Europe's second largest pharmaceutical group, Novartis, has acquired the European rights to pitavastatin, a treatment for the regulation of abnormal cholesterol levels in the blood.
The Basel-based company announced on Monday that it had purchased the HMG-CoA reductase inhibitor, currently in clinical phase II development, from French group, Hazal Finance, for an undisclosed amount.
Hazal had licensed pitavastatin from Japan’s Kowa Company and Nissan Chemicals Industries.
“We are really excited about having a ‘super-statin’ in our portfolio,” said Thomas Ebeling, chief executive of Novartis Pharma. “Pitavastatin’s impressive potential profile, backed by our extensive clinical and marketing expertise in cardiovascular medicine and cholesterol treatment, could make us a leading provider of cholesterol management therapy.”
Statins block the synthesis of cholesterol in the liver, which leads to a reduction of overall cholesterol levels in the bloodstream.
The company said the deal covers semi-exclusive licensing rights for Europe, Canada and certain African countries.
swissinfo with agencies
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