Mumbai: Ahmedabad-based drug maker Cadila Healthcare Ltd, also known as Zydus Cadila to distinguish it from Cadila Pharmaceuticals Ltd., has entered into a long-term drug discovery and development agreement with US-based multinational drug firm Eli Lilly and Company Inc.
On successful development of the new drug candidates, Zydus will receive up to $300 million as milestone payments, and a royalty once the drugs reach the market. The joint research programme will use the discovery and development capabilities of both companies in the new cardiovascular drugs segment, Zydus Cadila said in a statement on Monday to stock exchanges.
While Zydus Cadila will initiate the drug discovery and development process till Phase II stage, Lilly will retain the option to license any novel drug molecules that emerge from the programme for launch in the market.
Phase II is the proof of a concept stage, or the stage at which the drug is ready for trial in human subjects. Zydus Cadila currently has a research team of about 350, including scientists, and at least six cardiovascular products in development.