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Lilly buys rights to pain-fighting compound

October 30, 2007

Eli Lilly and Co has agreed to buy rights to an experimental compound for the treatment of various pains, including pain associated with osteoarthritis, from Glenmark Pharmaceuticals Ltd India.

Lilly will pay a $45 million upfront fee as well as up to $215 million more in potential development and sales milestones, plus royalties. The compound, GRC 6211, is in early, mid-stage trials.

If the drug is approved for use, the deal would give Lilly the right to market the drug in North America, Europe and Japan; Glenmark would retain marketing rights in all other countries.

 

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