Eli Lilly Pulls Out Of Somatogen/Optro Deal
- Eli Lilly has pulled out of its licensing agreement with Somatogenfor the blood substitute product Optro (rHb1.1), after a review of the clinical data for the product and a reassessment of its pipeline commitments. Lilly had negotiated exclusive marketing rights to the product in all territories except North America and Scandinavia. Somatogen's share price fell sharply on the announcement, despite assertions that it still has the resources in-house to complete its ongoing Phase II trials of the product.
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