Lilly, Boehringer collaborate on diabetes drugs
(AP) -- Eli Lilly will pay Boehringer Ingelheim $387.4 million and collaborate with the German drugmaker to develop diabetes drugs with the U.S. pharmaceutical company facing the expiration of some of its key patents.
Lilly, based in Indianapolis, loses patent protection this year for its top-selling drug, the anti-psychotic Zyprexa, and faces the loss of some other key patents in the next few years. The drugmaker said Tuesday that the deal with Boehringer Ingelheim offers the potential of boosting near-term revenue.
Lilly could receive more than $1 billion in future payments depending on how well the collaboration performs and whether the drugs under development reach certain sales milestones. Boehringer Ingelheim will be eligible for future payments totaling about $807 million.
The collaboration includes two Lilly insulins expected to enter late-stage testing this year and a type 2 diabetes treatment from Boehringer Ingelheim that is being reviewed by regulators.
Shares of Eli Lilly and Co. rose slightly in premarket trading.
©2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Eli Lilly's #1 cash cow Zyprexa drug sale $38 billion dollars to date has a greater risk of causing type 2 diabetes over the non-user of Zyprexa. So,here we have a conflict of interest that this same company also is a big profiteer of diabetes treatment.
All the best for Eli Lilly and resolution of Zyprexa claims
--Daniel Haszard Zyprexa victim activist