Takeda Canada has reacquired commercial rights to Actos, a major treatment for type 2 diabetes, from Eli Lilly Canada.
Takeda Pharmaceuticals, the original developer of Actos, licensed the drug to Lilly as part of a worldwide agreement in 1999.
Takeda already sells Actos in other territories such as the US, Japan and most of Europe.
Takeda Canada general manager Daaron Dohler said that reacquiring the commercial rights to Actos is Takeda's first opportunity to establish a commercial presence in Canada.
"It also underscores Takeda's ongoing efforts to reinforce our global operations and build a stronger presence in North America," Dohler said.
Actos was approved by Health Canada as monotherapy to decrease insulin resistance and blood glucose levels in patients with type 2 diabetes mellitus, in September 2000.