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Alphabet’s Verily, Sanofi to Invest $500 Million in Diabetes

  • Partnership, Onduo, aims to combine software and medicine
  • Increased diabetes competition here to stay, Sanofi says
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French drugmaker Sanofi and Alphabet Inc.’s life sciences arm plan to invest about $500 million in a joint venture to tackle diabetes amid forecasts for the number of people with the disease to surge.

Sanofi is betting the partnership with Verily Life Sciences LLC will spur advances in the way diabetes is monitored and treated and help it navigate an increasingly competitive market. The venture, Onduo, plans to combine devices, software and medicine, according to a statement Monday from Sanofi and Verily, previously known as Google Life Sciences. Sanofi is investing $248 million in cash, and Verily the equivalent in an unspecified way.