Kyowa Hakko Kirin, Otsuka Pharmaceutical sales and marketing update

Otsuka granted Kyowa exclusive rights to market diabetes drug saxagliptin in Japan. Otsuka will receive ¥3 billion ($37.5 million) up front and is eligible for ¥8.2 billion ($102.5 million) upon Japanese regulatory approval, plus royalties. An NDA for the oral dipeptidyl peptidase-4 (DPP-4) inhibitor to treat Type II diabetes is under review in Japan. Saxagliptin is marketed as Onglyza to treat Type II diabetes in more than 65 countries, including the U.S. and EU countries. Otsuka has rights to the product in Japan under a 2006 deal with Bristol-Myers Squibb Co. (NYSE:BMY, New York, N.Y.). Bristol-Myers partnered with AstraZeneca plc (LSE:AZN; NYSE:AZN, London, U.K.) in 2007 to develop and commercialize the product outside Japan (see BioCentury, Jan. 15, 2007). ...