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Astra and BMS extend agreement
18 Feb 2009
Medical Affairs
Astra Zeneca and Bristol Myers Squibb (BMS) have extended their collaboration on a drug to treat type-2 diabetes.
The two companies will work on developing the dapagliflozin medicine in Japan, which is currently at phase-three trials to assess its effectiveness and safety, reports Alibaba.com.
Lamberto Andreotti, executive vice president and chief operating officer of BMS, says: "BMS and AstraZeneca have been working together to develop dapagliflozin for type-2 diabetes for nearly two years."
He goes on to describe the inclusion of Japan as a "natural progression" of the development and "an important strategic step in our relationship".
AstraZeneca will have responsibility for operations and cost for all development and regulation aspects of the deal, while both companies will develop it, the source reports.
They will jointly market dapagliflozin in Japan, sharing all expenses and costs for the commercialisation of it.
BMS has recently revealed funding of more than $1.17 million (£0.8 million) to aid hepatitis C awareness in India, China and Taiwan.
