Pharmaceutical company Sanofi-Aventis has made a major play for a diabetes drug developed by Wellstat Therapeutics . Sanofi have licensed a mid-stage diabetes drug from the smaller biotech firm.
The deal gives the French drug company worlwide exclusivity over the development, manufacture and commercialisation of PN2034. The diabetes drug will be the first in a class of oral insulin sensitiser. At this stage, the drug is in phase II trials and may one day be able to reverse insulin resistance in the liver of patients with diabetes .
Wellstat will receive substantial payment, including milestone payments, up to a sum of 350 million dollars. PN2034 will join current diabetes treatment Lantus amongst major Sanofi offerings. News does not relate when the diabetes drug will come before the Food and Drug Administration for review.
Pharmaceutical company make diabetes deal
Thu, 22 Oct 2009
Recommended links
Diabetes and financeDiabetes myLifestyle
Diabetes support forum
Diabetes donate
Diabetes.co.uk ID Wristband
The Diet Plate for People with Diabetes
Diabetes increases flu complications
Diabetes complications linked to foot care
Amongst type 1 diabetes patient intensive control halves complications
Diabetes complications healed with pressurised oxygen
Botox could help diabetes complication
Diabetic cyclist completes legendary challenge
Diabetes company to cut 200 jobs
Diabetes companies no plans to buy
Pharmaceutical company will shed thousands of jobs
Diabetes company sees potential in Russia
Join us