I remember when I was working for AZ a few years ago. We bought the diabetes portfolio from BMS. It consisted of 2 molecules - Exenatide and Saxagliptin. If I remember correctly, both were relatively new. Exenatide was the only GLP1a available in the market, and Saxa was the 3rd DPP4i to market.
We were co-promoting these drugs with BMS but bought it off them for $3.5b. Think it was around 2012-2013.
Saxa was a huge flop. Given Sitagliptin (MSD), and Vildagliptin (Novartis) were already available. 'Me too' drugs don't tend to sell well without a lot of marketing clout.
Exenatide had exceptional potential (The OG version of Ozempic). But market timing wasn't the best, and it wasn't promoted correctly. Now both are unavailable.
It's amazing what $ a BP will pay for potential..
What IMU have coming is going to make that deal look like change you found down the back of your couch.
I remember when I was working for AZ a few years ago. We bought...
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