Lilly enters collaboration with Incyte to develop treatments for inflammatory, autoimmune disorders
INDIANAPOLIS As it pumps money into research and development to prime its pipeline in the face of patent expirations, Eli Lilly & Co. has entered into a development and commercialization agreement with a smaller company to develop orally administered treatments for inflammatory and autoimmune disorders, the drug maker announced Monday.
Lilly will work with Incyte Corp. to develop INCB28050 and follow-on compounds as a treatment for inflammatory and autoimmune disorders. The drug is in phase 2 clinical trials in patients with rheumatoid arthritis.
Under the agreement, Lilly will pay $90 million upfront and up to $665 million in milestones, in addition to royalties, in exchange for worldwide rights to develop and commercialize INCB28050.
“This new alliance with Incyte reinforces Lilly’s commitment to expand our presence in inflammation and autoimmunity through the development of a new class of oral anti-inflammatory therapies,” Lilly VP autoimmune product development Eiry Roberts said. “We look forward to continuing the development of INCB28050 in RA and initiating additional clinical studies to help address the unmet patient needs from debilitating autoimmune and inflammatory diseases.”
Lilly expands CFO’s role
INDIANAPOLIS Eli Lilly & Co. has expanded the role of its CFO, the drug maker announced Friday.
The Indianapolis-based pharmaceutical manufacture said that CFO and SVP Derica Rice had been promoted to CFO and EVP global services. He will assume the new position on Jan. 1 and be responsible for global services and the company’s ongoing global services design project.
“Derica has demonstrated strong leadership and outstanding results during his 19-year career at Lilly,” Lilly president John Lechleiter said in a statement. “Derica, in his new role, will help ensure that these important functions, aligned with our global services design effort, continue to provide needed support to our business units and our key functions in the most efficient and effective way possible.”
Rice began working for Lilly in 1990 as an international treasury associate and has served in various executive positions, including CFO, of the company’s subsidiaries in Canada and Europe.
FDA approves COPD treatment
RIDGEFIELD, Conn. The Food and Drug Administration has approved an inhaler for reducing the risks of exacerbations associated with chronic obstructive pulmonary disorder.
Pfizer and Boehringer Ingelheim Pharmaceuticals announced the FDA’s approval of Spiriva HandiHaler (tiotropium bromide). The inhaler is already approved as a maintenance treatment for COPD, which includes chronic bronchitis and emphysema.
“Exacerbations of COPD are serious events that can negatively impact the lives of patients,” University of California Los Angeles David Geffen School of Medicine professor emeritus Donald Tashkin said. “People with COPD now have a once-daily treatment option that not only helps them manage the debilitating symptoms of COPD, but also can help them reduce the chance of an exacerbation.”