King Pharmaceuticals, Depomed to co-promote Glumetza for type 2 diabetes

By Lisa Kerner

Charlotte, N.C., June 28 - King Pharmaceuticals, Inc. and Depomed, Inc. agreed to jointly commercialize and market Depomed's Glumetza (metformin hydrochloride extended-release tablets) product.

The once-daily extended-release formulation of metformin for the treatment of patients with type 2 diabetes was developed using Depomed's proprietary AcuForm drug delivery technology.

Under their agreement, King will be responsible for selling Glumetza in the United States and Puerto Rico. Depomed is responsible for manufacture and distribution of Glumetza and will also pay a fee from gross profits to King.

"This collaboration significantly strengthens our cardiovascular/metabolics portfolio and strategically complements our largest selling product, Altace (ramipril), which is currently the subject of a large, international clinical trial to determine if Altace reduces the risk of the onset of type 2 diabetes," King president and chief executive officer Brian A. Markison said in a news release.

Approved by the Food and Drug Administration in June 2005, Glumetza is expected to launch in the third quarter.

The U.S. market for metformin-based products totaled more than $1.4 billion in 2004, according to NDC data.

Located in Bristol, Tenn., King develops, manufactures, markets and sells branded prescription pharmaceutical products.

Depomed is a specialty pharmaceutical company located in Menlo Park, Calif.

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