Novartis and Novo Nordisk Partner to Commercialize Novel Insulin Sensitizer (NN622) in North America
EAST HANOVER, N.J., July 19 /PRNewswire/ -- Novartis Pharma AG and Novo Nordisk today announced an agreement on the commercialization of NN622, currently in development for the treatment of type 2 diabetes. Under the terms of the agreement Novartis acquires exclusive rights to commercialize the compound in the US, Canada and Mexico, with Novo Nordisk retaining certain detailing rights for the US. Novo Nordisk continues to be responsible for development and global regulatory approval. The agreement is subject to regulatory clearance in the US. Novartis will make upfront and milestone payments subject to progress relating to specified events, and will pay royalties. Financial terms of the transaction were not disclosed. Commenting on the agreement, Paulo Costa, president, Novartis Pharmaceuticals Corporation, said: "This novel compound adds further depth to our pipeline of projects addressing the serious and growing challenge of type 2 diabetes and its associated risks of cardiovascular disease. The agreement provides a strong near-term opportunity for Novartis in the metabolic and cardiovascular diseases area. We look forward together with diabetes leader Novo Nordisk to being early in bringing the benefits of this new approach to patients." Lars Almblom Jorgensen, chief operating officer of Novo Nordisk, said: We are very pleased with this agreement, securing a strong marketer as Novartis with its large, proven and dedicated sales force to support NN622 in North America. Its launch capabilities make it the partner of choice for Novo Nordisk in this area." NN622 is a PPAR (peroxisome proliferator-activated receptor) alpha and gamma agonist, which in preclinical and early clinical trials has shown potential to regulate blood glucose and diabetic dyslipidemia. The compound, in-licensed by Novo Nordisk from Dr Reddy's Laboratories, is chemically and pharmacologically different from presently marketed PPAR agonists. Increasing scientific evidence indicates that targeting both too high blood sugar levels and often too high lipid levels may improve treatment outcomes for type 2 diabetes patients. NN622 is currently in phase II clinical trials, and Novo Nordisk expects to complete the clinical proof of concept trials later this year. The compound is expected to be among the first to reach the market from a new generation of dual-acting sensitizers currently in development. About diabetes Type 2 or non-insulin dependent diabetes affects about 140-150 million people worldwide and is a serious disease with increasing numbers of people being afflicted in both first and developing world countries. According to the US Centers for Disease Control (CDC), more than 16 million Americans have diabetes, which is the seventh leading cause of death in the US and a contributor to heart disease, stroke, blindness, kidney disease, and non-traumatic leg and foot amputations. Diabetes rates in the US rose by approximately 6% among adults in 1999, according to CDC. This release contains certain forward-looking statements that can be identified by the use of forward-looking terminology such as "novel compound," "adds further depth to our pipeline," "strong near term opportunity," "new approach," "look forward," "potential," "may improve", "expects," "is expected" and "subject to". Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statement. In particular, there are no guarantees that the aforementioned agreement will result in a new diabetes therapy or any subsequent commercialization of any product in any North American market. Any such commercialization can be affected by, among other things, uncertainties relating to product research and development, clinical trials, regulatory actions or delays or government regulation generally, the ability to obtain or maintain patent or other intellectual property protection and competition in general. Located in East Hanover, New Jersey, Novartis Pharmaceuticals Corporation is an affiliate of the Novartis Group (NYSE: NVS), a world leader in healthcare with core businesses in pharmaceuticals, consumer health, generics, eye-care, and animal health. In 2000, the Group achieved sales of CHF 29.1 billion (USD 17.2 billion) and invested approximately CHF 4.0 billion (USD 2.4 billion) in R&D. Headquartered in Basel, Switzerland, Novartis employs about 69,000 people and operates in over 140 countries around the world. For further information please consult http://www.novartis.com. Novo Nordisk is a focused healthcare company and world leader in diabetes care. In addition, Novo Nordisk has a leading position within areas such as coagulation disorders, growth disorders and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society. With headquarters in Denmark, Novo Nordisk employs approximately 14,000 people in 68 countries and markets its products in 179 countries. For further company information visit http://www.novonordisk.com. Note to editors: Novartis and diabetes Novartis has a strong and growing commitment to diabetes. The company is currently in the global launch phase of Starlix(R) (nateglinide), the first D-phenylalanine (amino acid) derivative, for the treatment of type 2 diabetes. So far registered in over 50 countries worldwide, Starlix is growing good acceptance within the medical community as a new approach to a crucial risk factor of diabetes (post-prandial glucose spikes) as part of overall glucose control. In development, with phase II compounds DPP/LAF 237, the company is active in a new class of orally active anti-diabetics with potentially multiple functional effects. Novartis recently announced an agreement for worldwide exclusive rights to development and commercialization of Dr Reddy's insulin sensitizer DRF 4158 in type 2 diabetes. Finally, the international Novartis Award in Diabetes is one of many activities that Novartis is supporting to help increase awareness of and urgency for innovation in diabetes research, education and clinical practice. Contact: Cathy Yarbrough, 973-781-5385 email@example.com MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X91725861RELATED LINKS
SOURCE Novartis Pharma AG
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