|
PRESS RELEASE
NRDL Announces Second
Drug Development Agreement with Eli Lilly and Company.
Collaboration Represents yet another Innovation in R&D
Collaboration
Mumbai, India 15 February, 2008:
NPIL Research & Development Limited (NRDL), an independent
company recently demerged from Nicholas Piramal India Limited
(“NPIL”) (NSE: NICOLASPIR, BSE: 500302), and Eli Lilly and
Company (“Lilly”) (NYSE: LLY) have signed a second new drug
development agreement to develop and, in certain regions,
commercialise a select group of Lilly’s pre-clinical drug
candidates that span multiple therapeutic areas.
The new NRDL-Lilly alliance generally follows the framework
established by the earlier agreement between NPIL and Lilly,
signed on January 12, 2007, and continues the rationale of
seeking to increase productivity in drug development by
synergizing the unique strengths of both companies and
equitably sharing risk and reward. However, the second
agreement includes an innovative structure that may improve
the probability of success of the programme. In this new
agreement, both NRDL and Lilly will independently carry out
early clinical development of two different candidate
compounds directed against the same target. Following the
evaluation of the data from the Proof-of-Concept studies, one
or more of the drug candidates may be selected for further
development. NRDL's compensation, based on a pre-agreed
formula, could total up to $110 million in call-back payments
and milestones, plus royalties on sales.
Commenting on the second collaboration agreement, Dr. Somesh
Sharma, Chief Executive Officer, NRDL, said: “We are indeed
pleased that Lilly has chosen to partner with us another of
their lead compounds for pre-clinical and clinical
development. It not only strengthens our pipeline of products,
but also confirms our capabilities for discovering and
developing drugs for worldwide markets.”
Dr. Swati Piramal, Director, Strategic Alliances &
Communications, NPIL, said, “We are strengthening our R&D
collaboration with Eli Lilly as our first agreement is on
track and has seen benefits accruing to both partners in terms
of cost, quality and time. These partnerships are a win-win
for both companies and will help us to reduce the burden of
human disease.”
"This additional collaboration with Nicholas Piramal is a
prime example of the innovative risk sharing relationships
that Lilly is building around the globe as we implement our
strategy of becoming a fully-integrated pharmaceutical
network, or FIPNet", said Robert W. Armstrong, PhD., Vice
President, Global External Research and Development for Lilly.
“In the case of NRDL, we have made good progress over the past
year and look forward to continued success in our combined
drug development
For further information contact::
About NPIL Research & Development Limited:
NPIL Research & Development Limited (“NRDL”) is an independent
company that was recently demerged from Nicholas Piramal India
Limited ("NPIL"). NRDL was formerly the NCE R&D division of
NPIL. NRDL has state-of-the-art R&D laboratories built over
200,000 square-feet of space and over 300 scientists engaged
in world-class drug discovery research and development. NRDL
is focused on four therapeutic areas – Cancer, Diabetes,
Inflammation and Infectious Diseases – with a pipeline of nine
synthetic chemical compounds in pre-clinical development.
NRDL’s lead chemical compound, a Cdk-4 inhibitor, is currently
Phase I/II trials for Multiple Myeloma. NRDL also has three
phyto-pharmaceutical candidates in clinical trials for
Rheumatoid Arthritis, Infectious Disease and Cancer.
About Nicholas Piramal India Limited:
Nicholas Piramal India Limited ("NPIL") is one of India's
largest pharmaceutical companies with a growth track record of
above 30% CAGR since 1988. The Company is currently ranked 4th
in the Indian market with a diverse product portfolio spanning
nine therapeutic areas. NPIL's had consolidated Revenues of Rs.
24.7 billion in 2006-07. The Company has R&D capabilities in
Custom Chemical Synthesis, Process Innovation, NDDS and Basic
Research. It has world-class USFDA-approved formulations and
API facilities without any 483s. NPIL has a long track record
of successful collaboration with innovator companies. Since
2003, the Company has made significant investments to become a
global custom manufacturing organisation (“CMO") for large and
medium-sized innovator companies. NPIL is listed in India on
the Bombay Stock Exchange and National Stock Exchange. For
further information, please mail
investorrelations@nicholaspiramal.co.in or visit
www.nicholaspiramal.com.
About Eli Lilly and Company:
Lilly, a leading innovation-driven corporation, is developing
a growing portfolio of first-in-class and best-in-class
pharmaceutical products by applying the latest research from
its own worldwide laboratories and from collaborations with
eminent scientific organizations. Headquartered in
Indianapolis, Ind., Lilly provides answers – through medicines
and information – for some of the world's most urgent medical
needs. Additional information about Lilly is available at
www.lilly.com.
|
