Bristol-Myers Squibb signs licensing agreement with Otsuka

Bristol-Myers Squibb and Otsuka Pharmaceuticals have announced that they have signed a licensing agreement for the development and commercialisation of saxagliptin in Japan.

The compound, a dipeptidyl peptidase-4 inhibitor presently undergoing phase III clinical trials in Europe, is being studied for use in treating type two diabetes.

Saxagliptin operates by prolonging the actions of incretins, a naturally occurring hormone that decreases blood sugar by increasing the production of insulin by the pancreas and lowering the production of sugar by the liver.

Lamberto Andreotti, executive vice president and president of worldwide pharmaceuticals at Bristol-Myers Squibb, commented that the company is focused on research and development projects relating to treatment of serious diseases.

“Our collaboration with Otsuka on the antipsychotic agent Abilify (aripipazole) has been very successful and we are pleased to expand our relationship to include saxagliptin,” he said.

He added that this partnership was part of the company’s continuing efforts to improve the range of treatment options for patients with diabetes.

In May 2006, Bristol-Myers Squibb discontinued its development of dual alpha/gamma preoxisome proliferators-activator receptor agonist muraglitazar, a compound in development for the treatment of type two diabetes.

Following this decision, the company commented that it would focus its research and development efforts on other projects.