19 January – LAWFUEL – The Law News Network – The international law firm Clifford Chance has advised Pfizer Inc. with respect to the acquisition of the worldwide rights of Sanofi-Aventis to Exubera®, an inhaled human insulin.The international law firm Clifford Chance has advised Pfizer Inc. with respect to the acquisition of the worldwide rights of Sanofi-Aventis to Exubera®, an inhaled human insulin.
In the past the two companies established an alliance to jointly develop, manufacture and market the product Exubera®.
The acquisition comprises besides the rights of Sanofi-Aventis to Exubera® the share of Sanofi-Aventis in the joint venture Diabel GmbH & Co. KG, the owner of the Exubera®-insulin production facility located in Frankfurt am Main. The purchase price amounts to 1.3 billion US-Dollar. The acquisition is inter alia subject to the approval by the anti-trust authorities.
Exubera® is currently under regulatory review in the US and Europe for the treatment of adults with both type-1 and type-2 diabetes. The dry powder preparation constitutes the first non-injectible application since the
first non-injectible application since the discovery of insulin in the 1920s.
Members of the Clifford Chance team (Düsseldorf) were: Dr. Christoph Holstein, Lars Benger (both M&A and team lead) as well as Dr. Joachim Schütze (anti-trust law), Dr. Peter Dieners (medical device law), Thomas Hey (labour law), Uwe Schimmelschmidt (tax law), Thomas Weimann (litigation), Dr. David Elshorst (environmental law, Frankfurt), Jörn Stobbe (real estate, Frankfurt) and the associates Cord von Mandelsloh (tax law), Jutta Dissen (M&A), Astrid Whyte (labour law), Michael Jewell (anti-trust law) and Dr. Michael Kremer (litigation).