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news.Sciele Pharma has signed an exclusive agreement with Novo Nordisk to market Prandin and, upon approval by the FDA, PrandiMet to physicians in the US. Sciele will have the right of first refusal to obtain marketing rights in the US to other Novo Nordisk products containing repaglinide.
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Prandin (repaglinide) is an oral blood glucose-lowering drug of the meglitinide class used in the management of type 2 diabetes mellitus. PrandiMet is a combination tablet of repaglinide and metformin.
Sciele Pharma increased its full-year 2008 revenue guidance from $440 million to $455 million, up approximately $10 million over previously announced guidance, as a result of the agreement. Sciele said that it expects full-year 2008 earnings per share to increase to $1.97 to $2.07 per share, up approximately $0.10 from its previously announced guidance.
Patrick Fourteau, president and CEO of Sciele Pharma, said: “Promoted by our primary care sales force, Prandin and PrandiMet will strengthen our presence in the diabetes treatment market.”