Lilly, Boehringer collaborate on diabetes drugs

(AP) -- Eli Lilly will pay Boehringer Ingelheim $387.4 million and collaborate with the German drugmaker to develop diabetes drugs with the U.S. pharmaceutical company facing the expiration of some of its key patents.

Lilly, based in Indianapolis, loses this year for its top-selling drug, the anti-psychotic Zyprexa, and faces the loss of some other key patents in the next few years. The drugmaker said Tuesday that the deal with Boehringer Ingelheim offers the potential of boosting near-term revenue.

Lilly could receive more than $1 billion in future payments depending on how well the collaboration performs and whether the drugs under development reach certain sales milestones. Boehringer Ingelheim will be eligible for future payments totaling about $807 million.

The collaboration includes two Lilly insulins expected to enter late-stage testing this year and a treatment from Boehringer Ingelheim that is being reviewed by regulators.

Shares of Eli Lilly and Co. rose slightly in premarket trading.

Explore further

Eli Lilly halts development of Alzheimer's drug

©2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Citation: Lilly, Boehringer collaborate on diabetes drugs (2011, January 11) retrieved 26 January 2020 from
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Feedback to editors

User comments