BASKING RIDGE, N.J. and NEW YORK, Aug. 7, 2012 /PRNewswire/ -- Mylan Specialty L.P., a subsidiary of Mylan Inc. (Nasdaq: MYL), and Pfizer Inc. (NYSE: PFE) today announced a license agreement, under which Pfizer will obtain the exclusive rights to market and sell EpiPen® Injection 0.3/0.15mg in Japan. These products, known in the U.S. as EpiPen® (epinephrine) 0.3mg and EpiPen Jr® (epinephrine) 0.15mg Auto-Injectors, are for self-administration for the emergency treatment of life-threatening allergic reactions (anaphylaxis) caused by allergens, exercise or unknown triggers. EpiPen Injection is the only approved epinephrine auto-injector in Japan.
"We are very excited to extend our partnership with Pfizer to this important market," said Mylan Chief Executive Officer Heather Bresch. "Last year, we announced that the Japanese Ministry of Health, Labour and Welfare approved National Health Insurance price listing for EpiPen Injection. We have built on this positive momentum by recently launching our next-generation EpiPen Injection in Japan. We look forward to achieving success with Pfizer as our partner that furthers our commitment to better serve the people of Japan who suffer from life-threatening allergies."
Under the terms of the agreement, the exclusive rights to market and sell the next-generation EpiPen Injection in Japan will be transferred to Pfizer from Mylan Seiyaku. The next-generation EpiPen Injection and EpiPen Auto-Injector are currently available in Japan, the U.S., Canada, South Africa, Australia and certain European countries.
"Pfizer and Mylan share a deep commitment to serve the people of Japan who are at risk for anaphylaxis," said Ichiro Umeda, President Pfizer Japan. "This agreement will help us to better address this important public health issue in Japan – from improving awareness and preparedness, to expanding access to treatment – through Pfizer's existing commercial infrastructure and market expertise."The financial terms of the agreement were not disclosed.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts