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
- here's the report from the Indianapolis Star