In a release, India's Glenmark Pharmaceuticals said its partner Eli Lilly has suspended further clinical development for GRC 6211 for osteoarthritis pain. The companies didn't give an explanation for the move, saying only that Glenmark and Lilly are currently in discussions on the way forward. "We've seen some very, very recent clinical findings on account of which we decided to put a hold on the program right now," Glenn Saldanha, Glenmark's Managing Director and CEO, told CNBC-TV18. "As of now, GRC 6211 could still progress forward or we could move some of the back-up compounds."
Glenmark and Lilly signed a $350 million deal last year in which Lilly gained rights to Glenmark's TRPV1 antagonist molecules, including GRC 6211. The collaboration between Glenmark and Lilly covers all TRPV1 antagonist molecules discovered by either company. Glenmark's Saldanha said the trial suspension won't impact the company's financial outlook.
- see Glenmark's release
- here's the Dow Jones article