Pfizer Japan Inc. and Takeda Pharmaceutical Company Limited
announced today an agreement to extend the period for co-promotion in Japan for
the rheumatoid arthritis (RA) drug Enbrel(R) (generic name: etanercept). The
companies also signed a new co-promotion agreement in Japan for the
investigational drug tofacitinib (development code: CP-690,550), formerly known
as tasocitinib, which is being studied for multiple inflammatory conditions,
including rheumatoid arthritis. The co-promotion agreement between Takeda and
Pfizer for Tofacitinib is for RA and certain other potential indications in Japan. Pfizer
will receive a milestone payment from Takeda at the launch of Tofacitinib and
Takeda will receive a percentage of sales (based on certain conditions
specified in the contract) as a co-promotion fee from Pfizer. Contractual
details are not disclosed.

“We are looking forward to the next phase of our
successful partnership with Takeda,” said Michael Goettler, regional
president of Asia-Pacific and Japan Head, Specialty Care Business Unit, Pfizer.
“We are proud of our current inflammation product portfolio, and excited about
the prospect of bringing new innovative treatments to our patients.”