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Health Industry
#64
<b>Nicholas Piramal ties up with Eli Lilly over pre-clinical drug discovery</b>

Feb 15, 2008

Pharma company, Nicholas Piramal Friday said it entered into an agreement with US-based, Eli Lilly to develop and commercialise some of that company's pre-clinical drug products.

According to the agreement, both Nicholas Piramal Research and Development and Lilly would independently carry out early clinical development of two different drug compounds.

Nicholas Piramal Research and Development would receive a payment of $110 million from the US firm, plus royalties on sales upon successful launch of the compounds.
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