Breaking up is hard to do.
Irreconcilable Differences: Lilly & Amylin Divorce // Pharmalot.
In this case, apparently not as Lilly and Amylin part ways in their diabetes efforts with the drugs Bydureon and Byetta -- which Amylin will take control of after giving Lilly some cash. Amlylin will pay Lilly $250 million now and a 15 percent royalty on global sales until a $1.2 billion note has been repaid to Lilly.
The split ends a long partnership that unravelled after Lilly signed a deal with Boehringer Ingelheim to jointly develop and sell several diabetes compounds that are in mid- and late-stage development -- and compete with Amylin's drugs.
What do they say about fury and a partner scorned?
Posted by Bruce Lehr Nov 11, 2011.
More on this from the Burrill Report via Seeking Alpha
http://seekingalpha.com/article/307476-amylin-ceo-sees-break-with-lilly-on-diabetes-drug-as-a-plus-for-shareholders?source=feed
Posted by: Bigredbruce | 11/13/2011 at 04:43 PM