AstraZeneca, Eli Lilly Form Alzheimer's Disease Treatment Alliance
September 16 2014 - 1:51AM
Dow Jones News
By Tapan Panchal
LONDON--U.K.-based pharmaceutical company AstraZeneca PLC
(AZN.LN) said Tuesday that it signed an agreement with U.S.-based
Eli Lilly and Co. (LLY) to develop and commercialize AZD3293, an
oral beta secretase cleaving enzyme for the treatment of
Alzheimer's disease.
Alzheimer's is an illness that causes progressive memory
decline.
Under the agreement, Lilly will pay AstraZeneca up to $500
million in development and regulatory milestone payments.
AstraZeneca expects to receive the first milestone payment of $50
million in the first half of 2015. The companies will share all
future costs and revenue equally from the development of AZD3293.
AstraZeneca will be responsible for manufacturing AZD3293, while
Lilly will lead the clinical development.
AstraZeneca said the agreement will have no impact on its 2014
core earnings per share.
Write to Tapan Panchal at tapan.panchal@wsj.com
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