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.”