Lilly assumes development of Transition's diabetes drug candidate

06/19/2013 | Wall Street Journal, The

Eli Lilly and Co. is exercising a $7 million option to obtain all development and marketing rights to Transition Therapeutics' experimental type 2 diabetes drug TT-401. Transition could get around $240 million more in milestone fees plus royalties if the drug reaches market. "We look forward to continuing the development of TT-401, as it supports our strategy of offering a broad portfolio of therapies for people with diabetes," Lilly official David Moller said.

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