Otsuka licenses domestic rights to B-MS' saxagliptin

8 January 2007

Japan's Otsuka Pharmaceutical has been granted exclusive domestic rights to develop and commercialize US drug major Bristol-Myers Squibb's investigational compound saxagliptin, for the treatment of type 2 diabetes. Otsuka gains rights to the dipeptidyl peptidase-4 inhibitor, which is currently in Phase III development in the USA and Europe, in exchange for undisclosed milestones based on certain regulatory events, as well as sales-based payments following regulatory approval of saxagliptin in Japan, while B-MS retains rights to co-promote the agent in Japan with Otsuka. Under the terms of the licensing agreement, Otsuka will be responsible for all local development costs.

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