the deal with Takeda was a diabetes deal in China.(May 15)
Pfizer (NYSE: PFE) has taken on the job of co-promoting a diabetes drug in China for Takeda Pharmaceutical Company. Actos (pioglitazone HCl), an oral treatment for diabetes 2, produces over $4 billion of annual revenues for Takeda worldwide.Pfizer has a sales force of 3000 in China.
The agreement gives Pfizer reps a blockbuster drug to sell in an important disease – diabetes. Pfizer does not have a major presence in diabetes. Its inhaled insulin product, Exubera, never caught on with the public, forcing Pfizer to cancel it after spending hundreds of millions of dollars to get an inhaled insulin product approved.