German drugmaker Merck KgaA (MKGAY.PK) announced a collaboration with Bristol-Myers Squibb (BMY) for promotion of the type 2 diabetes drug Glucophage or metformin hydrochloride under different formulations in China.
As per terms of the deal, Merck and Bristol-Myers Squibb will co-promote Glucophage in China through a profit-sharing arrangement. Glucophage has been marketed by Bristol-Myers Squibb-SASS in China since 1999.
Merck said that the two companies will utilize their existing resources and complementary strengths, with Bristol-Myers Squibb-SASS continuing to manufacture Glucophage's IR (immediate release) formulation.
The collaboration will seek to expand the geographic distribution of Glucophage as well as provide diabetes-related health and medical information including education for health professionals. In addition, the co-promotion will significantly increase outreach to hospitals.
Other terms of the agreement were not disclosed.
According to a recent estimate by the International Diabetes Federation (IDF), China nowhas the most people with diabetes of any country in the world. It has become a major public health problem in China with more than 90 million people suffering from the disease. Current estimates are that more than 60% of patients with type 2 diabetes are undiagnosed, possibly due to a combination of poor public awareness and limited opportunities for diagnosis.
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