Indian pharmaceutical company, Zydus Cadila is planning to withdraw from its collaboration with Eli Lilly that involved joint drug discovery for cardiovascular diseases.
Both the companies entered into the drug discovery alliance in March 2009.
It is believed that Zydus Cadila and Eli Lilly are faced with issues concerning differences in strategy and rising costs of research.
Zydus Cadila was entitled for a payment of about $300m depending on the achievement of significant milestones, under the collaboration.
Source: PBR (No longer active)
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