Pfizer pays $1.3 billion to acquire rights to inhaled human insulin from sanofi

New York, Jan. 12 - Pfizer Inc. said it will pay $1.3 billion to acquire the worldwide rights to inhaled human insulin from sanofi-aventis.

The two companies were previously in a worldwide alliance to co-develop, co-promote and co-manufacture the product.

The deal also includes the insulin production facilities located in Frankfurt, Germany, previously jointly owned by the two companies.

Pfizer will market the treatment under the name Exubera.

"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," said Hank McKinnell, Pfizer chairman and chief executive officer, in a news release.

"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."

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, Pfizer noted. The direct healthcare costs may be as much as $286 billion worldwide.

Exubera is a fast-acting dry powder formulation of human insulin. It is inhaled into the lungs via the mouth before meals through a simple-to-use hand-held inhalation device which does not require batteries or electricity, Pfizer said.

Exubera is under regulatory review in the United States 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.

If approved, Exubera will be the first non-injectable option for the treatment of diabetes introduced since the discovery of insulin in the 1920s.

Exubera was developed jointly by Pfizer, sanofi and Nektar Therapeutics. Nektar's contract with Pfizer will not change.

Pfizer is a New York-based pharmaceutical company.

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