Abbott buys cholesterol drug specialists Kos
pharmafile | November 9, 2006 | News story | Sales and Marketing |Â Â Â
Abbott is to pay $3.7 billion for Kos, the specialist US pharma company which has developed a number of major cholesterol treatments.
Kos Pharmaceuticals’ two lead products are Niaspan (niacin extended-release tablets), which works by raising levels of HDL or good cholesterol levels; and Advicor, which combines Niaspan with the LDL or bad cholesterol lowering drug, lovastatin.
The company has another new combination in the pipeline, Simcor, this time combining a Niaspan with simvastatin, a better known and more widely prescribed statin.
Abbott has bought the company with the aim of combining Kos’ cholesterol drug portfolio with its own, which includes TriCor(R) (fenofibrate) and two pipeline products a next-generation fenofibrate, ABT-335; and a TriCor/Crestor combination being developed with AstraZeneca.
“Kos Pharmaceuticals is an excellent strategic fit for Abbott, both scientifically and commercially,” said Miles White, chairman and chief executive of Abbott. “This acquisition expands Abbott’s presence in the lipid management market and will provide several on-market and late-stage pipeline products. Kos also complements our existing commercial and research and development expertise, and increases our R&D spending capacity.”
Kos Pharmaceuticals is also developing a number of other products, including Flutiform, a new asthma drug in-licensed from SkyePharma. The product is currently in late-stage development for adult and adolescent asthma and will provide an expanded presence for Abbott in the $10 billion asthma market, in addition to Kos’ currently marketed asthma product.
Kos is also developing an inhaled insulin product, which Abbott believes will fit well into its existing diabetes franchise, which centres around its leading glucose monitoring and diabetes nutritionals businesses.
