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November 9, 2011

Amylin and Lilly to dissolve diabetes agreement

Amylin Pharmaceuticals and Eli Lilly are to dissolve their agreement surrounding diabetes medications Byetta and Bydureon.

By Liam Stoker

Amylin Pharmaceuticals and Eli Lilly are to dissolve their agreement surrounding diabetes medications Byetta and Bydureon.

Amylin is to receive all rights related to both medications for a one-time, upfront fee of $250m, with 15% of global net sales in revenue-sharing payments payable to Lilly up to $1.2bn.

The agreement relies on Bydureon receiving US Food and Drug Administration (FDA) approval before 30 June 2014, with Lilly set to receive 8% of sales of exenatide products should the drug not be rubber-stamped for use in the US.

Lilly could also receive a one-off milestone payment of $150m from Amylin should a once-monthly suspension version of the drug, currently in a Phase II trial, be approved by the FDA.

Both parties insisted the split was amicable despite Amylin citing a potential conflict of interest when Lilly signed a separate diabetes agreement with Boehringer Ingelheim.

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