Two major diabetes drug companies have agreed a supply deal on a diabetes drug that they are developing together. Eli Lilly and Amylin Pharmaceuticals, who are developing a weekly type of relatively new diabetes treatment Byetta, claimed that they had reached a supply agreement this week.
Eli Lilly will reportedly pay Amylin $125 million and then lend the company a further sum, up to $165 million. Amylin, who are based in San Diego, will borrow in stages. Eli Lilly will reported reimburse Amylin for their investment in a manufacturing facility in Ohio.
The new form of Byetta is a long-acting diabetes treatment that only needs injecting once each week. Byetta, also called exenatide, is currently injected twice per day. Both forms of the drug are artificially created using the protein found in Gila Monster Saliva. Both drugs are designed to help people with diabetes better control their blood sugar.
Diabetes drug supply deal
Wed, 22 Oct 2008
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