- Continues to Expand Viatris' Innovative Portfolio in
Cardiovascular Diseases
- Leverages Viatris' Unique Global Infrastructure and
Expertise
- Includes Opportunities to Leverage the Potential
of Sotagliflozin to Additional Indications
PITTSBURGH, Oct. 16,
2024 /PRNewswire/ -- Viatris Inc. (Nasdaq:
VTRS), a global healthcare company, today announced it has entered
into an exclusive licensing agreement with Lexicon Pharmaceuticals,
Inc. (Nasdaq: LXRX) for sotagliflozin in all markets outside of
the United States and Europe.
Sotagliflozin was approved by the U.S. Food and Drug
Administration in May 2023 to reduce
the risk of cardiovascular death, hospitalization for heart
failure, and urgent heart failure visit in adults with heart
failure or type 2 diabetes mellitus, chronic kidney disease, and
other cardiovascular risk factors.
This licensing agreement leverages Viatris' expertise in
cardiovascular diseases and its Global Healthcare
Gateway® — which offers partners ready access
to more markets and patients worldwide through the Company's unique
global infrastructure and expertise. This transaction is another
example of how the Company is continuing to expand its innovative
portfolio by identifying, vetting and securing highly innovative,
patent-protected assets that address significant unmet medical
needs.
Viatris Chief Commercial Officer Corinne
Le Goff said: "This licensing agreement with Lexicon
adds another asset to our expanding innovative portfolio in
cardiovascular diseases which gives us the opportunity to further
drive accelerated and durable revenue growth in the future. We
believe we will be able to leverage our strong foundation in
cardiovascular diseases and our unique infrastructure to execute on
the potential of sotagliflozin. We look forward to working with
Lexicon to make a real difference and expand access for
patients."
Lexicon CEO and Director, Dr. Mike
Eaton, Ph.D., said: "We are pleased to be working with
Viatris, a company with strong cardiometabolic expertise, global
commercial capabilities and a successful track record of launching
medicines in new territories. We are confident that this agreement
will expand the reach of sotagliflozin to more patients in need.
Partnering with high quality companies to support commercialization
of our medicines globally is a critical pillar of our Lead to
Succeed strategy at Lexicon. We plan to continue to evaluate
strategic partnerships for additional assets, territories and
indications to augment Lexicon's development and commercial
capabilities, advance our pipeline and expand access of our
medicines to more patients around the world."
Terms of the Transaction
Under the terms of the
agreement, Viatris will acquire rights to sotagliflozin in all
global markets outside of the U.S. and Europe in exchange for an upfront payment to
Lexicon of $25 million, and
additional potential contingent payments, including regulatory
milestones, sales milestones and tiered royalties ranging from
low-double-digit to upper-teens on annual net sales. Viatris
will be responsible for all regulatory and commercialization
activities for sotagliflozin in the licensed territories. Lexicon
will be responsible for providing clinical and commercial supply of
sotagliflozin to Viatris. Viatris currently expects to account for
the transaction as an asset acquisition, with the upfront payment
being expensed as in-process research and development.
About Sotagliflozin
Sotagliflozin is an oral inhibitor
of two proteins responsible for glucose regulation known as
sodium-glucose cotransporter types 2 and 1 (SGLT2 and SGLT1). SGLT2
is responsible for glucose and sodium reabsorption by the kidney
and SGLT1 is responsible for glucose and sodium absorption in the
gastrointestinal tract. Sotagliflozin has been studied in multiple
patient populations encompassing heart failure, diabetes, and
chronic kidney disease in clinical studies involving approximately
20,000 patients.
About Viatris
Viatris Inc. (NASDAQ: VTRS) is a global
healthcare company uniquely positioned to bridge the traditional
divide between generics and brands, combining the best of both to
more holistically address healthcare needs globally. With a mission
to empower people worldwide to live healthier at every stage of
life, we provide access at scale, currently supplying high-quality
medicines to approximately 1 billion patients around the world
annually and touching all of life's moments, from birth to the end
of life, acute conditions to chronic diseases. With our
exceptionally extensive and diverse portfolio of medicines, a
one-of-a-kind global supply chain designed to reach more people
when and where they need them, and the scientific expertise to
address some of the world's most enduring health challenges, access
takes on deep meaning at Viatris. We are headquartered in the U.S.,
with global centers in Pittsburgh,
Shanghai and Hyderabad, India. Learn more
at viatris.com and investor.viatris.com, and connect with
us on LinkedIn, Instagram, YouTube and X (formerly
Twitter).
About Lexicon Pharmaceuticals
Lexicon is a
biopharmaceutical company with a mission of pioneering medicines
that transform patients' lives. Through its Genome5000™ program,
Lexicon scientists studied the role and function of nearly 5,000
genes and identified more than 100 protein targets with significant
therapeutic potential in a range of diseases. Through the precise
targeting of these proteins, Lexicon is pioneering the discovery
and development of innovative medicines to safely and effectively
treat disease. Lexicon is commercially launching one of these
medicines, INPEFA® (sotagliflozin) in the
United States, and has a pipeline of other promising drug
candidates in discovery and clinical and preclinical development in
neuropathic pain, diabetes and metabolism and other indications.
For additional information, please
visit www.lexpharma.com.
Forward-Looking Statements
This press release includes
statements that constitute "forward-looking statements." These
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such forward
looking statements may include statements that this continues to
expand Viatris' innovative portfolio in cardiovascular diseases;
this licensing agreement leverages Viatris' expertise in
cardiovascular diseases and its Global Healthcare
Gateway® — which offers partners ready access to
more markets and patients worldwide through the Company's unique
global infrastructure and expertise; this transaction is another
example of how the Company is continuing to expand its innovative
portfolio by identifying, vetting and securing highly innovative,
patent-protected assets that address significant unmet medical
needs; this licensing agreement with Lexicon adds another asset to
our expanding innovative portfolio in cardiovascular diseases which
gives us the opportunity to further drive accelerated and durable
revenue growth in the future; we believe we will be able to
leverage our strong foundation in cardiovascular diseases and our
unique infrastructure to execute on the potential of sotagliflozin;
we look forward to working with Lexicon to make a real difference
and expand access for patients; and the terms of the transaction.
Because forward-looking statements inherently involve risks and
uncertainties, actual future results may differ materially from
those expressed or implied by such forward-looking statements.
Factors that could cause or contribute to such differences include,
but are not limited to: actions and decisions of healthcare and
pharmaceutical regulators; changes in healthcare and pharmaceutical
laws and regulations in the U.S. and abroad; any regulatory, legal
or other impediments to Viatris' ability to bring new products to
market, including but not limited to "at-risk" launches; Viatris'
or its partners' ability to develop, manufacture, and commercialize
products; the scope, timing and outcome of any ongoing legal
proceedings, and the impact of any such proceedings; the
possibility that Viatris may be unable to realize the intended
benefits of, or achieve the intended goals or outlooks with respect
to, its strategic initiatives; the possibility that Viatris may be
unable to achieve intended or expected benefits, goals, outlooks,
synergies, growth opportunities and operating efficiencies in
connection with divestitures, acquisitions, other transactions or
restructuring programs, within the expected timeframes or at all;
goodwill or impairment charges or other losses related to the
divestiture or sale of businesses or assets; Viatris' failure to
achieve expected or targeted future financial and operating
performance and results; the potential impact of public health
outbreaks, epidemics and pandemics; any significant breach of data
security or data privacy or disruptions to our information
technology systems; risks associated with international operations;
the ability to protect intellectual property and preserve
intellectual property rights; changes in third-party relationships;
the effect of any changes in Viatris' or its partners' customer and
supplier relationships and customer purchasing patterns; the
impacts of competition; changes in the economic and financial
conditions of Viatris or its partners; uncertainties and matters
beyond the control of management, including general economic
conditions, inflation and exchange rates; failure to execute stock
repurchases consistent with current expectations; stock price
volatility; and the other risks described in Viatris' filings with
the Securities and Exchange Commission (SEC). Viatris routinely
uses its website as a means of disclosing material information to
the public in a broad, non-exclusionary manner for purposes of the
SEC's Regulation Fair Disclosure (Reg FD). Viatris undertakes no
obligation to update these statements for revisions or changes
after the date of this press release other than as required by
law.
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SOURCE Viatris Inc.