Eli Lilly is ending 2009 with its check book out and pen in hand. This morning Lilly announced that it will pay Incyte $90 million upfront and up to $665 million more for the worldwide rights to its anti-inflammatory therapy INCB28050 and certain follow-on drugs. The oral drug is a JAK inhibitor currently in mid-stage trials for rheumatoid arthritis.
"This new alliance with Incyte reinforces Lilly's commitment to expand our presence in inflammation and autoimmunity through the development of a new class of oral anti-inflammatory therapies," said Eiry Roberts, M.D. Lilly vice president for autoimmune product development. Incyte will retain the option to co-develop its JAK1/JAK2 inhibitors with Lilly on a compound-by-compound and indication-by-indication basis beginning at the initiation of Phase IIb development.
- check out Lilly's release [1]
- here's the report [2] from the Indianapolis Star
Related Articles:
Novartis, Incyte strike potential $1B deal [3]
Lilly's bullish pipeline review can't quell skeptics [4]
Lilly's new development star signals strategic shift [5]
Lilly strategy chief heralds licensing deals, bigger Chorus role [6]
Links:
[1] http://www.fiercebiotech.com/press-releases/lilly-and-incyte-announce-collaboration-development-and-commercialization-oral-anti-i
[2] http://www.indystar.com/article/20091221/BUSINESS/912210348/Lilly-buys-rights-to-anti-inflammatory-pill
[3] http://www.fiercebiotech.com/story/novartis-incyte-strike-potential-1b-deal/2009-11-25
[4] http://www.fiercebiotech.com/story/lillys-bullish-pipeline-review-cant-quell-skeptics/2009-12-10
[5] http://www.fiercebiotech.com/story/lillys-new-development-star-signals-strategic-shift/2009-11-16
[6] http://www.fiercebiotech.com/story/lilly-strategy-chief-heralds-licensing-deals-bigger-chorus-role/2009-11-04