Amylin (AMLN) Sues Eli Lilly (LLY) Over Exenatide Agreements
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Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) today announced that it has filed a lawsuit against Eli Lilly and Company (NYSE: LLY) alleging that Lilly is engaging in anticompetitive activity and breaching its strategic alliance agreements with Amylin to maximize commercialization of exenatide.
The suit was filed in the United States District Court for the Southern District of California.
From the release:
In its complaint, which seeks among other things, a preliminary and permanent injunction, Amylin alleges that Lilly is engaging in improper, unlawful and anticompetitive behavior in the manner in which it plans to implement its recently announced global alliance agreement with Boehringer Ingelheim GmbH ("BI") to jointly develop and commercialize BI's linagliptin product, which will compete directly with Amylin's exenatide products. The principal relief Amylin seeks is to prevent Lilly from proceeding with its plans to use the same sales force to sell both exenatide and BI's competitive linagliptin.
Amylin issued the following statement:
"Amylin selected Lilly as a partner to promote development and maximize sales of Amylin's exenatide products. We are disappointed that we could not resolve this matter amicably and that we were forced to bring legal action to protect our rights, our products and our shareholders. Amylin is committed to exenatide, a franchise that we believe provides important treatment options for the millions of patients around the world with type 2 diabetes. Notwithstanding this litigation, we intend to continue to collaborate with Lilly in the development and commercialization of exenatide products."
The suit was filed in the United States District Court for the Southern District of California.
From the release:
In its complaint, which seeks among other things, a preliminary and permanent injunction, Amylin alleges that Lilly is engaging in improper, unlawful and anticompetitive behavior in the manner in which it plans to implement its recently announced global alliance agreement with Boehringer Ingelheim GmbH ("BI") to jointly develop and commercialize BI's linagliptin product, which will compete directly with Amylin's exenatide products. The principal relief Amylin seeks is to prevent Lilly from proceeding with its plans to use the same sales force to sell both exenatide and BI's competitive linagliptin.
Amylin issued the following statement:
"Amylin selected Lilly as a partner to promote development and maximize sales of Amylin's exenatide products. We are disappointed that we could not resolve this matter amicably and that we were forced to bring legal action to protect our rights, our products and our shareholders. Amylin is committed to exenatide, a franchise that we believe provides important treatment options for the millions of patients around the world with type 2 diabetes. Notwithstanding this litigation, we intend to continue to collaborate with Lilly in the development and commercialization of exenatide products."
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