SHANGHAI, Nov. 10, 2015 /PRNewswire/ -- WuXi PharmaTech (Cayman) Inc. (NYSE: WX) and Eli Lilly and Company (NYSE: LLY) today announced that they have entered into a strategic collaboration to develop, manufacture and commercialize a novel small molecule in China.
The potential medicine is a novel, once-daily oral agent, discovered by Lilly, which could address cardiovascular risk in patients with dyslipidemia, representing an unmet medical need worldwide. An estimated 276 million patients in China are affected by these conditions, including about 12 million patients requiring drug treatment. The potential medicine aims to reduce cardiovascular events in patients with elevated LDL cholesterol and triglycerides at high risk of cardiovascular events.
WuXi will be responsible for regulatory, development and manufacturing activities in China, which will be led and coordinated by WuXi's Product Development Service and Partnership (PDSP) Business Unit. The potential medicine will be manufactured in China by WuXi to support China development. Lilly will be responsible for commercial activities. The parties will both invest in bringing this potential new medicine to patients in China. Further financial terms of the collaboration were not disclosed. An Investigational New Drug (IND) application will be filed in China by WuXi, and product development and registration will be carried out within China.
"We are pleased to collaborate with WuXi to develop this potential new medicine," said Andrew Hodge, President of Lilly China. "This unique collaboration is part of our 'In China, For China' strategy to leverage Lilly's leading technology and experience, and local partners' insight and expertise, to meet patient needs."
"WuXi is delighted to work with Lilly, a world-leading pharmaceutical company, to develop, register and manufacture this potential first-in-class therapeutic agent," said Dr. Ge Li, Chairman and CEO of WuXi PharmaTech. "This strategic collaboration will leverage the recently announced China regulatory reforms, which strongly encourage, support, and accelerate development and manufacture in China of highly innovative new medicines that target major unmet medical needs."
About WuXi PharmaTech
WuXi PharmaTech is a leading open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology, and medical device industries, with operations in China and the United States. As a research-driven and customer-focused company, WuXi PharmaTech provides a broad and integrated portfolio of services throughout the drug and medical device R&D process. WuXi is also building a platform to provide clinical diagnostic services directly to physicians and their patients globally. WuXi PharmaTech's services are designed to assist its global partners in shortening the cycle and lowering the cost of drug and medical device R&D. WuXi PharmaTech's operating subsidiaries are known as WuXi AppTec. For more information, please visit http://www.wuxiapptec.com.
About Eli Lilly and Company
Lilly is a global healthcare leader that unites caring with discovery to make life better for people around the world. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism. To learn more about Lilly, please visit us at www.lilly.com and newsroom.lilly.com/social-channels.
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SOURCE WuXi PharmaTech (Cayman) Inc.