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AstraZeneca And Bristol-Myers Squibb Diabetes Alliance Provides $5 Million Grant For American Diabetes Association's Pathway To Stop Diabetes Research Initiative

Stocks in this article: AZN BMY

AstraZeneca (NYSE:AZN) and Bristol-Myers Squibb Company (NYSE:BMY) today announced that the companies’ U.S. Diabetes Alliance is providing a three-year grant to the American Diabetes Association’s Pathway to Stop Diabetes program. The innovative research initiative provides resources and support for a new generation of diabetes researchers and is designed to generate exciting discoveries through excellence, innovation, collaboration and radical thinking.

Diabetes is a progressive disease that requires a range of treatment options and guidelines for individualized care. While diabetes affects 25.8 million Americans, the National Institutes of Health (NIH) reports significantly lower funding for diabetes research than other diseases, such as cancer and HIV/AIDS. The need for a broader approach to diabetes management has been recognized by policymakers, professional societies and advocacy organizations for diabetes management.

2013 Pathway Awards will provide $1.625 million in support for five to seven years for the selected investigators and will fund research relevant to any diabetes type, diabetes-related disease state or diabetes complication. Nominations included a broad range of disciplines, including medicine, biology, chemistry, engineering, physics and mathematics.

“The AstraZeneca/Bristol-Myers Squibb Diabetes Alliance recognizes the need for a broader approach to diabetes management and is proud to work with the American Diabetes Association on Pathway to Stop Diabetes,” said Rich Daly, president, U.S. Diabetes Alliance. “We look forward to following the progress of the 2013 Pathway Awards researchers as they work to discover innovative treatment options and solutions to address a wide range of needs for patients living with the many burdens of diabetes.”

About Type 2 Diabetes

Diabetes is estimated to affect 25.8 million people in the U.S. and more than 382 million people worldwide. The prevalence of diabetes is projected to reach more than 592 million people worldwide by 2035. Type 2 diabetes accounts for approximately 90-95 percent of all cases of diagnosed diabetes. Type 2 diabetes is a chronic disease characterized by pathophysiologic defects leading to elevated glucose levels. Over time, this sustained hyperglycemia contributes to further progression of the disease. Significant unmet needs still exist, as many patients remain inadequately controlled on their current glucose-lowering regimen.

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