AstraZeneca Pharma India Ltd and the Indian arm of Bristol-Myers Squibb today announced plans to jointly develop drugs for the treatment of type-II diabetes in India, using new compounds developed by Bristol-Myers Squibb.
The alliance also announced the launch of `Saxagliptin', a new drug for the Indian market to combat type 2 diabetes.
In a joint statement issued today, the firms said the alliance will develop and commercialise two compounds discovered by Bristol-Myers Squibb for treatment of the type II diabetes.
The announcement is in step with the global alliance between the two companies launched in 2007.
This is the first time that tow pharmaceutical companies have joined forces to combat a disease in India.
"Bristol-Myers Squibb has been committed to cardiovascular diseases and to diabetes for many years. We are pleased to extend that heritage to develop innovative science to treat diabetes, with two compounds from our research laboratories, one being launched today, saxagliptin, and an investigational one, dapagliflozin.