Bristol-Myers Squibb and AstraZeneca Entered Into Worldwide Collaboration For the Development and Commercialization of Diabetes Compounds
Saxagliptin: a dipeptidyl peptidase-4 (DPP-4) inhibitor, currently in Phase III development.- Dapagliflozin (previously referred to as BMS-512148): a sodium-glucose cotransporter-2 (SGLT2) inhibitor, currently in Phase IIb development.
The terms of the agreements include the following:
An upfront payment of $100 million by AstraZeneca to Bristol-Myers Squibb.- From 2007 through 2009, the majority of development costs will be funded by AstraZeneca. Any additional development costs will be shared equally.
- Bristol-Myers Squibb may also receive additional payments of up to $650 million based on development and regulatory milestones for the two compounds. In addition, potential sales milestones up to $300 million per product are also possible.
- The companies will jointly develop the clinical and marketing strategy of the compounds, and post-launch will share commercialization expenses and profits/losses equally on a global basis, excluding Japan.
- Bristol-Myers Squibb will manufacture both products and book sales.
Find more details of the agreement from the press release.
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