Eli Lilly partnered with OSI Pharmaceuticals by funding an experimental diabetes medication, PSN010. The partnership will cost Eli Lilly $25 million upfront and possibly $385 million, in total.
Eli Lilly said that it will pay OSI Pharmaceuticals for its pipeline drug, PSN010. This drug represents a new class of diabetes medications aimed at controlling blood sugar in patients with type-2 diabetes by stimulating glucokinase. Glucokinase is a protein that spurs the pancreas to produce more insulin and helps the liver to control glucose.
So this is a good thing. It looks like Eli Lilly is writing checks again - but this time it's for a good cause. This is a genuine attempt to restore street cred with those who butter their bread: the diabetes community!
