Sanofi And Medtronic Forms Strategic Diabetes Alliance - Quick Facts

(RTTNews) - Sanofi (SNY) and Medtronic, Inc. (MDT) announced that they have signed a memorandum of understanding to enter into a global strategic alliance in diabetes. The alliance aims at improving patient experience and outcomes for people with diabetes around the world.

French drugmaker Sanofi said that the allaince will initially cooperate on developing drug-device combinations and offering care management services for diabetes patients. Based on results of the two initial priorities, the companies may explore other areas for potential collaboration.

Financial terms were not disclosed.