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Collaboration Represents yet another Innovation in R&D Collaboration
MUMBAI, India | February 15, 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
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
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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.
SOURCE: NPIL Research & Development Limited |
