United States-based Bristol-Myers Squibb Co and the United Kingdom's AstraZeneca Plc said they have set up an alliance to sell and promote an innovative diabetes medication, which completed the acquisition of Amylin Pharmaceuticals Inc from Eli Lilly & Co.

The alliance is a fresh model of cooperation - a collaboration between two big multinational drugmakers on specific diseases.

"As diabetes represents a serious and growing public health concern, innovative treatment options must be complemented by integrated disease management platforms and collaborative partnerships if China is to tackle this serious disease," said Jean-Christophe Pointeau, president of Bristol-Myers Squibb China.

"We're delighted that the pioneering Bristol-Myers Squibb/AstraZeneca Diabetes Alliance is leading the way to help more patients benefit from a wider portfolio of diabetes medicines which support individual treatment objectives."

Within the escalating challenge of chronic diseases, diabetes is a fast-growing public health issue that threatens millions of people, and has a significant social and economic impact in China. Official statistics show that there are approximately 145 million people currently living with pre-diabetes on top of the existing 92.4 million diabetes patients in China.

In addition, the progressive nature of type 2 diabetes creates an increasing need for the development of new therapies as most patients will require multiple medications during the disease continuum, experts said.