Issue Date: February 25, 2008
NPIL, Lilly Form Another R&D Pact
Mumbai-based Nicholas Piramal India Ltd. and Eli Lilly & Co. have reached a second drug discovery agreement. NPIL and Lilly will separately conduct early clinical development on different drug candidates directed at the same biological target. NPIL stands to gain as much as $110 million in milestones and royalties if the program is successful. Last year, NPIL licensed a Lilly compound in order to conduct preclinical and clinical studies.
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