NEW YORK (AP) -- Drug developer Bristol-Myers Squibb Co. said Monday it expanded a diabetes drug partnership with AstraZeneca by adding development and sales in Japan to the deal.
Japan is considered the world's second-largest market for drugs, behind the U.S.
The drug, dapagliflozin, is in late-stage development in several countries as a once-daily treatment for type 2 diabetes, though it is only in midstage development in Japan. The companies have been partners since January 2007.
Under the changes, London-based AstraZeneca will be responsible for development and regulatory activities in Japan. If approved there, the companies will jointly market the drug and split all profits equally.
Bristol-Myers Squibb will manufacture dapagliflozin and book sales.
The companies are also partners on the developing once-daily diabetes treatment Onglyza, or saxagliptin, but Bristol has already given Otsuka Pharmaceutical an exclusive license to sell that drug in the Japanese market That drug candidate is under review by the Food and Drug Administration and European regulators.