Eli Lilly exercises rights to diabetes drug candidate TT-401 from Transition Therapeutics
Canada’s Transition Therapeutics (TSX: TTH) announced this morning (June 17) that US drug major Eli Lilly (NYSE: LLY) has exercised its option to assume all development and commercialization rights to type 2 diabetes drug candidate TT-401, under their original deal signed in 2010 (The Pharma Letter March 4, 2010). In conjunction with this assumption of rights, Transition will receive a $7 million milestone payment.
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