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Biotech / Medical : ALKS - Alkermes, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Doc Bones who wrote (186)	1/8/2007 1:30:04 PM
From: tuck	Respond to of 189

>>Alkermes and Lilly Expand AIR(R) Inhaled Insulin Collaboration Monday January 8, 8:01 am ET Companies Sign Manufacturing Agreement Naming Alkermes the Worldwide Commercial Supplier for AIR Inhaled Insulin CAMBRIDGE, Mass. & INDIANAPOLIS--(BUSINESS WIRE)--Alkermes, Inc. (Nasdaq: ALKS - News) and Eli Lilly and Company (NYSE: LLY - News) today announced that they have signed a commercial manufacturing agreement for AIR® Inhaled Insulin (AIR® Insulin). As a result of the agreement, Alkermes will be the exclusive commercial manufacturer of AIR Insulin powder for the AIR® Inhaled Insulin System (AIR® Insulin System). The manufacturing agreement provides for an additional investment by Lilly for the construction and operation of a second manufacturing line at Alkermes' commercial-scale production facility for inhaled medications, expanding the facility's powder production capacity to meet post-launch requirements. The AIR Insulin System is currently in phase 3 clinical development by Lilly and Alkermes and is being studied as an innovative treatment for type 1 and type 2 diabetes. In 2001, Lilly and Alkermes entered into a development and license agreement for the collaboration on inhaled formulations of insulin. The agreement announced today builds upon both the manufacturing and clinical development progress made to date and further advances the collaboration by establishing the supply chain for commercial supply of AIR Insulin, post the AIR Insulin System approval. "We are very pleased that Alkermes will be the exclusive worldwide commercial supplier of AIR Insulin powder," commented Richard Pops, chief executive officer of Alkermes. "Our expanded agreement with Lilly underscores the potential we see for this innovative treatment option, and plans are now underway to build the additional capacity required to support our projected future commercial demand for the AIR Insulin System." Bryce Carmine, president of global brand development for Lilly, added, "Lilly and Alkermes have built a very strong relationship around the development of the AIR Insulin System. This manufacturing agreement broadens that relationship, and provides the necessary AIR Insulin capacity to meet the needs of patients worldwide. Lilly looks forward to the potential addition of AIR Insulin to our portfolio of innovative diabetes products." Under the terms of the agreement, Alkermes is responsible for overseeing construction of the second manufacturing line, including process development, scale-up and validation, as well as for the manufacture and supply of inhaled insulin powder. Lilly is responsible for funding activities related to the construction, development and operation of the second manufacturing line as well as the facility expansion required to support the manufacturing line. Lilly is also responsible for all product packaging. If inhaled formulations of insulin are successfully developed and commercialized, Lilly will purchase product from the facility. Additional terms of the agreement were not disclosed. Lilly/Alkermes Inhaled Insulin Program Lilly and Alkermes are conducting phase 3 clinical trials for an inhaled insulin system (known as the AIR Insulin System) that delivers insulin via inhalation based on Alkermes' AIR pulmonary delivery technology. The Lilly/Alkermes program is focused on developing an innovative treatment option that can help address the challenges associated with managing type 1 and type 2 diabetes. The AIR Insulin System uses a small, simple inhaler that fits in the palm of a hand. For more information about the phase 3 trials, visit www.lillytrials.com. << snip This is doing absolutely nothing for or to the share price. Cheers, Tuck