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Monday August 7, 4:37 PMJapan's Taisho ends diabetes drug tie-up with LillyTOKYO, Aug 7 (Reuters) - Japanese drug maker Taisho Pharmaceutical Co. said on Monday it has ended a development tie-up with Eli Lilly and Co. on its diabetes drug and will continue its development on its own.The move reflects Lilly's decision to give up its development of the medicine, code-named TS-021, after results of non-clinical trials failed to meet the U.S. drug maker's evaluation standard, Taisho said. "Any drug maker's evaluation standard includes safety and efficacy perspectives. We are not commenting about how the compound failed to meet Lilly's standard," a Taisho spokeswoman said. Taisho, which is Japan's biggest over-the-counter drug maker and also makes prescription drugs, will continue development of the drug in Japan while its U.S. unit will pursue development for overseas markets. "We will continue development of TS-021 and we may seek another partner abroad in the future," the spokeswoman said. In July last year, Lilly bought exclusive rights to develop and market Taisho's diabetes drug worldwide except for Japan and China. Shares in Taisho closed down 2 percent at 2,195 yen prior to the announcement. That compared with a 1.53 percent drop in the pharmaceutical sector subindex . |
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