Google Parent and Sanofi Name Diabetes Joint Venture Onduo
Joint venture will research diabetes treatments
Joshua Riff, who was a senior executive at UnitedHealth Group’s Optum, will be CEO of the new unit. PHOTO: EUROPEAN PRESSPHOTO AGENCY
PARIS—French pharmaceutical group Sanofi SA is joining with Verily Life Sciences LLC, a unit of Google parent Alphabet, to create a joint venture called Onduo to research diabetes treatments.
“Onduo’s mission is to help people with diabetes live full, healthy lives by developing comprehensive solutions that combine devices, software, medicine, and professional care to enable simple and intelligent disease management,” Sanofi and Verily, which was previously known as Google Life Science, said.
The two companies appointed Joshua Riff, who was a senior executive at UnitedHealth Group’s Optum, as the chief executive of the new unit.
Sanofi is a leading maker of diabetes medication, as well as many other drugs. Onduo will combine Verily’s experience in miniaturized electronics, analytics, and consumer software development, and Sanofi’s clinical expertise and experience in providing treatment to diabetic people.
Sanofi is seeking new diabetes treatments as revenue from its diabetes drugs in the U.S. fell after its insulin Lantus lost patent protection there.Diabetes is expected to affect 592 million people world-wide by 2035, according to the International Diabetes Federation.