Jun 28 2010
Bayer Inc. and Teva Canada Limited today announced they have entered an agreement regarding Bayer's Adalat(R) XL(R) (nifedipine) 20, 30 and 60 mg product. Effective immediately, Bayer Inc. will supply Adalat(R) XL(R) exclusively to Teva Canada Limited and Teva Canada Limited will become the sole distributor in Canada of brand name Adalat(R) XL(R) product.
"We are very pleased to have been able to enter into this new agreement which will ensure Canadians continue to have access to Adalat XL," said Doug Grant, Senior Vice President and Head, Corporate Affairs, Bayer Inc. "In the new multisource environment, we want to make sure patients have consistent access to brand name medication at a competitive market price. We have a rich pipeline of cardiovascular products and remain committed to the cardiovascular health of Canadians."
"Teva Canada's mission is to provide affordable healthcare solutions to Canadians," said Barry Fishman, President and CEO, Teva Canada Limited. "In harmony with our mission, a key objective is to be the leader in meeting the needs of pharmacists and their patients with the highest market-coverage of affordable pharmaceutical products. Currently we market over 253 products in various therapeutic classes and the addition of Adalat XL to Teva Canada's existing cardiovascular product line increases our overall product offering to Canadians."
Under the agreement, Bayer will supply Adalat(R) XL(R) exclusively to Teva Canada Limited.
Source: BAYER INC.
Source: TEVA CANADA LIMITED