Eli Lilly, Takeda to Terminate Agreement on Ruboxistaurin Mesylate

Eli Lilly Japan, a subsidiary of Eli Lilly, and Takeda Pharmaceutical reported that an agreement in Japan to codevelop and comarket ruboxistaurin mesylate to treat diabetic macular edema and diabetic peripheral neuropathy has been terminated.

Ruboxistaurin mesylate is an investigational compound discovered and developed by Eli Lilly. In an agreement concluded Dec. 18, 2003, Phase II clinical studies using this compound commenced, according to Eli Lilly and Takeda.

The companies said that they judged that the overall results of diabetic peripheral neuropathy and diabetic macular edema trials did not meet criteria for Phase III studies, and the companies have agreed to terminate the original agreement.