Eli Lilly Drug Using SkyePharma Technology
Advances in Trials
Bloomberg News
May 14, 1998, 2:18 a.m. PT
Eli Lilly Drug Using SkyePharma Technology Advances in Trials
London, May 14 (Bloomberg) -- SkyePharma Plc and Eli Lilly &
Co. said they have begun late-stage clinical trials of one of
Lilly's existing drugs using SkyePharma's drug delivery technology.
Shares in SkyePharma rose as much as 10 pence to 95.5p.
SkyePharma, a U.K. pharmaceutical company developing
controlled release formulations of existing drugs, did not name the
drug for proprietary reasons, except to say the drug is in Lilly's
infectious disease, oncology or cardiovascular drug portfolio.
Indianapolis, Indiana-based Lilly is one of the world's
biggest drug companies and maker of Prozac, the world's best-
selling antidepressant.
Ian Gowrie-Smith, chairman and chief executive of SkyePharma,
said the continuing progress of the drug through clinical trials is
''encouraging.''
SkyePharma said because the drug advanced in clinical
development, Lilly paid it an undisclosed sum known as a
''milestone payment.''
SkyePharma is focusing on timed release formulations of drugs,
an area of strong interest by drugmakers looking to extend the
marketing life of their drugs, particularly after 20-year patents
expire.
SkyePharma is now developing new formulations for 11 drugs for
various pharmaceutical companies, four of which are in final-stage,
or ''phase III'' clinical trials, the last stage of drug
development before filing for regulatory approval.
It recently announced that SmithKline Beecham Plc filed for
approval for a timed release formulation of Seroxat/Paxil, the
world's second-biggest selling antidepressant after Prozac, using
SkyePharma's technology, which is called Geomatrix.
--Dane Hamilton in the London newsroom (44-171) 330-7727/js |
