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Lilly extends research pact with India firm

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Eli Lilly and Co. has extended a research agreement with Jubilant Organosys Ltd., a Bangalore, India-based drug firm, the companies announced Tuesday morning.

Jubilant and Indianapolis-based Lilly extended the collaboration, which began in 2005, by five years.

Under the pact, Jubilant will receive research funding and payments for reaching drug-discovery and development milestones. Lilly will own any compounds developed by the partnership and will be responsible for marketing them.

The partnership has already delivered multiple discovery milestones and preclinical drug candidates, the companies said.

Lilly and Jubilant also have a joint venture for early-stage drug development, Vanthys Pharmaceuticals, that was established in 2008.

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