Pfizer and Merck agreed to jointly develop and market the former's investigational type 2 diabetes drug ertugliflozin both as a standalone product and in combination with metformin and Merck's Januvia, or sitagliptin. The deal entitles Pfizer to as much as $60 million in upfront and milestone fees as well as additional payments if certain targets are reached. Merck and Pfizer said they would split potential revenue and some costs on a 60-40 basis.

Related Summaries