Eli Lilly and Co. has pulled the plug on a collaboration with a Massachusetts company to develop inhaled insulin for diabetics.
Alkermes Inc. said it received a letter Friday from Lilly terminating the development and license agreement for AIR Inhaled Insulin. The announcement was made shortly after Alkermes released a statement that Lilly was evaluating its business case for the drug.
AIR Insulin is being evaluated in a broad phase-3 clinical trial program with patients with type 1 and type 2 diabetes. Alkermes said it was not aware of any safety, efficacy or manufacturing issues that would lead to the termination of the agreement.
Copyright 2008 by United Press International
Explore further: Discount generic drug programs grow over time