AstraZeneca Pharma, Abbott Healthcare sign distribution pact for diabetes drug

Drug firm AstraZeneca Pharma India Friday said it has entered into a distribution agreement with Abbott Healthcare for distribution of diabetes medicine Dapagliflozin in India.

Dapagliflozin, an innovative Type 2 diabetes medicine, is AstraZeneca Pharma's leading diabetes medicine.

"Under the agreement, Abbott will promote and distribute Dapagliflozin under the brand name GLEDEPA. Abbott will also gain the rights to promote and distribute the combination of dapagliflozin with metformin under the brand name GLEDEPA MET," AstraZeneca Pharma said in a regulatory filing.

AstraZeneca Pharma, which did not share financial details of the agreement, said it will continue to promote and distribute dapagliflozin under the brand name Forxiga and combination of dapagliflozin with metformin under the brand name Xigduo.

Shares of AstraZeneca Pharma were trading 0.54 per cent higher at Rs 1,341.35 apiece on BSE.

(With inputs from agencies.)