Pfizer Inc. has reached an agreement to acquire the sanofi-aventis worldwide rights to inhaled human insulin, which Pfizer intends to market under the trade name Exubera. The two companies were previously in a worldwide alliance to co-develop, co-promote and co-manufacture Exubera.
For $1.3 billion, Pfizer will acquire the sanofi-aventis worldwide Exubera rights as well as the insulin production facilities located in Frankfurt, Germany, previously jointly owned by Pfizer and sanofi-aventis.
Exubera is a fast-acting dry powder formulation of human insulin. It is inhaled into the lungs via the mouth pre-meal through a simple-to-use, hand-held inhalation device which does not require batteries or electricity.
Exubera is under regulatory review in the US and Europe for the treatment of adults with both type 1 and type 2 diabetes. Pfizer plans to make Exubera available to patients as soon as possible following regulatory approvals.
"As diabetes reaches epidemic levels worldwide, new treatment options such as Exubera-the first inhalable, non-injectable insulin medicine-have the potential to improve the lives of millions of people with diabetes," Hank McKinnell, Pfizer chairman and chief executive officer, said adding, "We sought the sanofi-aventis rights to Exubera based on the strong addition it would represent to our portfolio of innovative medicines. The acquisition of these rights also underscores our ability to invest in new product opportunities that will drive our future growth."
The product of a developmental collaboration between Pfizer Inc, sanofi-aventis and Nektar Therapeutics, Exubera represents an innovation in insulin delivery, and would be the first non-injectable option introduced since the discovery of insulin in the 1920s.
According to the World Health Organization, diabetes is reaching epidemic proportions. Approximately 194 million people worldwide have the disease, and it is estimated that the number of people with diabetes will more than double by 2030. The direct healthcare costs may be as much as $286 billion worldwide.