Posted on 16/03/2010 in Pharmaceutical Company Product News Lilly has agreed a deal to licence a treatment for testosterone deficiency developed by drug delivery company Acrux.
The pharmaceutical company is to be given exclusive rights to commercialise Axiron, an experimental underarm testosterone solution which allows therapy for low testosterone to be administered discreetly.
This agreement will see Acrux receive an initial upfront payment of $50 million (33.2 million pounds) plus the cost of transferring manufacturing assets, while it will also receive additional funds based on the achievement of clinical and commercial milestones.
Bryce Carmine, president of Lilly's biomedicines division, stated that the acquisition underlines the company's commitment to men's health issues.
He added: "We look forward to working with Acrux and the Food and Drug Administration (FDA) during the regulatory review process."
Lilly is currently awaiting a verdict from the FDA on its application for the diabetes drug exenatide, with the regulator's action date having passed last week.Other news stories from 16/03/2010
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