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`BristolMyers Squibb and AstraZeneca Announce Worldwide Collaboration to Develop and Commercialize Diabetes Compounds | BMS Newsroom
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`Bristol‐Myers Squibb and AstraZeneca Announce Worldwide
`Collaboration to Develop and Commercialize Diabetes
`Compounds
`Partnership Aligned with BristolMyers Squibb Company Strategy
`
`Thursday, January 11, 2007 8:00 am EST
`
`PRINCETON, N.J.(BUSINESS WIRE)BristolMyers Squibb
`Company (NYSE: BMY) and AstraZeneca ("companies") today
`announced a collaboration to develop and commercialize two
`investigational compounds being studied for the treatment of
`Type 2 diabetes. Both compounds were discovered by Bristol
`Myers Squibb.
`
`Saxagliptin, a dipeptidyl peptidase4 (DPP4) inhibitor, is
`currently in Phase III development. Upon successful completion
`of the development program, the companies plan to file for U.S.
`regulatory approval of saxagliptin during the first half of 2008.
`Dapagliflozin (previously referred to as BMS512148), a sodium
`glucose cotransporter2 (SGLT2) inhibitor, is currently in Phase
`IIb development. The collaboration on these compounds is
`worldwide, except for Japan. Should either party develop
`additional DPP4 or SGLT2 compounds, the other company can
`elect to add those compounds to the collaboration.
`
`"BristolMyers
`Squibb has a
`strong legacy in
`treating Type 2
`diabetes and
`cardiovascular
`disease, and we
`look forward to
`leveraging the
`combined
`expertise of our
`company and
`AstraZeneca to
`further develop
`and
`commercialize
`these
`compounds."
`
`Terms of the agreements include an upfront payment of $100
`million by AstraZeneca to BristolMyers Squibb. The companies
`have agreed upon initial development plans for the two compounds. From 2007 through
`2009, the majority of development costs will be funded by AstraZeneca. Any additional
`development costs will be shared equally.
`
`BristolMyers 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 postlaunch
`will share commercialization expenses and profits/losses equally on a global basis,
`excluding Japan. BristolMyers Squibb will manufacture both products and book sales.
`
`"This collaboration provides BristolMyers Squibb the opportunity to maximize our
`primary care assets, and it is aligned with our corporate strategy to concentrate R&D
`efforts on serious diseases such as diabetes while maintaining commercial focus on
`specialists and high prescribing primary care physicians," said Jim Cornelius, chief
`executive officer, BristolMyers Squibb. "BristolMyers Squibb has a strong legacy in
`treating Type 2 diabetes and cardiovascular disease, and we look forward to leveraging
`the combined expertise of our company and AstraZeneca to further develop and
`commercialize these compounds."
`
`David Brennan, chief executive officer of AstraZeneca, said, "Diabetes is a disease
`reaching almost epidemic proportions in many regions throughout the world and is a
`particular area of scientific interest for AstraZeneca. This deal represents a significant
`step in delivering our externalization strategy as it gives us access to two strategically
`important latestage compounds in an area of high unmet medical need. We believe that
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`BristolMyers Squibb's recognized contributions to diabetes research will complement our
`existing strengths. Additionally, our combined expertise will develop new areas of
`opportunity for both companies and the potential to bring real medical benefit to the
`wider community."
`
`About Diabetes
`
`Diabetes is a disease in which the body does not produce or properly use insulin. Insulin
`is a hormone needed to carry glucose (sugar) from the blood into cells, where it is
`converted to energy the cells need to perform properly. When insulin is not present or
`does not function correctly, the result is high levels of glucose in the blood. Over time,
`high blood glucose levels can lead to complications in the eyes, kidneys, central nervous
`system or heart.
`
`Type 2 diabetes is the most common form of diabetes, accounting for approximately 90
`95 percent of diabetes cases. Having Type 2 diabetes increases the risk of many serious
`complications, including heart disease or stroke, high blood pressure, amputation
`(particularly legs), blindness, nerve damage, and kidney failure. The risk of stroke and
`the rate of deaths due to heart disease are two to four times higher among people with
`diabetes, while about 65 percent of deaths among people with diabetes are due to heart
`disease and stroke.
`
`The American Diabetes Association (ADA) estimates that more than 20 million people in
`the United States, or 7 percent of the population, have diabetes, and that one in three
`Americans born in 2000 will develop diabetes sometime during their lifetime. There are
`currently more than 230 million people living with diabetes worldwide. The objective of
`treating diabetes is to control blood glucose to as normal a level as possible. This can be
`accomplished by a combination of diet, exercise and medication.
`
`About Saxagliptin and Dapagliflozin
`
`Saxagliptin is a dipeptidyl peptidase4 (DPP4) inhibitor, a new class of diabetes
`medicines that work by increasing and prolonging the action of natural hormones in the
`body called incretins. Incretins decrease blood sugar by increasing consumption of sugar
`by the body, mainly through increasing insulin production in the pancreas, and by
`reducing production of sugar by the liver. By enhancing the effect of active incretin
`hormones in the body, DPP4 inhibitors improve timely insulin release and ultimately
`decrease high blood sugar levels in patients with Type 2 diabetes.
`
`Dapagliflozin is a sodium glucose cotransporter2 (SGLT2) inhibitor. The SGLT2
`transporter protein is located only in the kidney, where it normally reabsorbs glucose
`from urine while waste products are filtered out. Patients with Type 2 diabetes continue
`to reabsorb glucose from the urine, even though this process contributes to high blood
`glucose levels, or hyperglycemia. Dapagliflozin has a novel mechanism of action that
`blocks reabsorption of glucose from urine in patients with Type 2 diabetes. Inhibiting
`SGLT2 activity decreases reabsorption of glucose by the kidney, helping to improve
`glucose control in patients with Type 2 diabetes.
`
`About BristolMyers Squibb
`
`BristolMyers Squibb is a global pharmaceutical and related healthcare products company
`whose mission is to extend and enhance human life.
`
`About AstraZeneca
`
`AstraZeneca is a major international healthcare business engaged in the research,
`development, manufacture and marketing of prescription pharmaceuticals and the
`supply of healthcare services. It is one of the world's leading pharmaceutical companies
`with healthcare sales of $23.95 billion and leading positions in sales of gastrointestinal,
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`BristolMyers Squibb and AstraZeneca Announce Worldwide Collaboration to Develop and Commercialize Diabetes Compounds | BMS Newsroom
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`cardiovascular, neuroscience, respiratory, oncology and infection products. AstraZeneca
`is listed in the Dow Jones Sustainability Index (Global) as well as the FTSE4 Good Index.
`AZ has over 40 years experience in cardiovascular medicine, with a powerful range of
`products including Atacand, a hypertension medication, Seloken ZOK, a leader in its class
`of beta blockers and CRESTOR, for the treatment of high cholesterol levels.
`
`BristolMyers Squibb ForwardLooking Statement
`
`This press release contains "forwardlooking statements" as that term is defined in the
`Private Securities Litigation Reform Act of 1995, regarding the development and
`commercialization of products. Such forwardlooking statements are based on current
`expectations and involve inherent risks and uncertainties, including factors that could
`delay, divert or change any of them, and could cause actual outcomes and results to
`differ materially from current expectations. No forwardlooking statement can be
`guaranteed. Among other risks, there can be no guarantee that the products described
`in this release will receive regulatory approval, or that if approved, will be commercially
`successful. Nor is there any assurance that any or all of the development, regulatory,
`and sales milestones provided for in the agreement will be achieved. Forwardlooking
`statements in the press release should be evaluated together with the many
`uncertainties that affect BristolMyers Squibb's business, particularly those identified in
`the cautionary factors discussion in BristolMyers Squibb's Annual Report on Form 10K
`for the year ended December 31, 2005, its Quarterly Reports on Form 10Q, and
`Current Reports on Form 8K. BristolMyers Squibb undertakes no obligation to publicly
`update any forwardlooking statement, whether as a result of new information, future
`events, or otherwise.
`
`SOURCE: BristolMyers Squibb Company
`
`CONTACT: Media: Jeff Macdonald, Communications, +12125464824, or
`
`+19173710940, jeffrey.macdonald@bms.com, or Tony Plohoros, Communications,
`
`+12125464379, tony.plohoros@bms.com, or Investors: John Elicker, Investor
`
`Relations, +12125463775, john.elicker@bms.com, or Blaine Davis, Investor
`
`Relations, +12125464631, blaine.davis@bms.com
`
`Web site: http://www.bms.com/
`
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