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Teijin and Chugai will co-develop diabetes drug
September 2007
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TOKYO—Teijin Pharma Ltd. and Chugai Pharmaceutical Co. have made an agreement to develop a diabetes drug, ITM-077, in Japan that was originated by Ipsen, an international specialty pharmaceutical. Under the deal, Teijin has been granted by Ipsen rights to co-exclusively develop, sell, market and promote ITM-077 in Japan with Ipsen's global partner under an agreement executed in July 2003 between Teijin and Ipsen. Until now, Teijin has been conducting the development of ITM-077 by itself. Teijin now expects, through collaboration with Chugai, to speed up the development, aiming to get early regulatory approval.
Roche, the strategic alliance partner of Chugai, and Ipsen entered into an agreement for ITM-077 in October 2003, under which Roche obtained an option right to develop and sell ITM-077 worldwide exclusively except for co-exclusive rights in Japan and France. Roche exercised its option in July 2006, and licensed its rights in Japan to Chugai in an agreement executed in December 2006
 

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