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Sanofi Inks $435 Million Diabetes Deal With South Korea's Hanmi

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Under the agreement, Hanmi will receive an upfront payment of 400 million euros ($435 million), and is eligible for payments of up to 3.5 billion euros if it achieves certain sales and development milestones, the companies said in a statement yesterday.
As part of the pact, Sanofi will receive a worldwide license to develop and commercialize three investigational diabetes treatments, including a drug called efpeglenatide that belongs to a newer class of medicines called GLP1-agnostics that are used to control blood sugar. Hanmi will keep an exclusive option to co-commercialize the products in Korea and China.
Sanofi, France’s biggest company by market value, in October cut its forecast for sales of diabetes therapies in the next three years after sales of its best-selling Lantus insulin slumped.

http://www.bloomberg.com/news/articles/2015-11-05/sanofi-inks-435-million-diabetes-deal-with-south-korea-s-hanmi?cmpid=yhoo.headline