Lilly Will Sell Takeda Diabetes Drug if It Wins U.S. Approval
Bloomberg News
May 26, 1998, 3:46 p.m. PT
Lilly Will Sell Takeda Diabetes Drug if It Wins U.S. Approval
Indianapolis, May 26 (Bloomberg) -- Eli Lilly & Co. said it
will sell a diabetes drug made by Japan's Takeda Chemical
Industries in the U.S. if the drug, pioglitazone, wins approval
here.
The Takeda drug is similar to Rezulin, a Sankyo Co. drug
that Warner-Lambert Co. sells in the U.S. Rezulin had
$420 million in 1997 sales, its first year on the market. Taking
Rezulin has allowed some diabetics to do without insulin.
Takeda's drug is in the last of three stages of testing
needed to apply for U.S. Food and Drug Administration approval.
It already has been submitted for approval in Japan, Lilly said.
The drug would be used in Type II diabetes, the more common
form of the disease. Type II diabetes often strikes people over
age 40.
Takeda also will sell the drug in the U.S., Indianapolis-
based Lilly said. Shares of Lilly, maker of the antidepressant
Prozac, fell 1 7/8 to 64 1/8.
--Kerry Dooley in the Princeton newsroom (609) 279-4016/jcn. |
