Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has extended an agreement with another major pharmaceutical maker. The deal with AstraZeneca (NYSE: AZN) involves exploring potential cancer treatment combinations.
Lilly’s contributions to the immuno-oncology partnership include taking the lead on study execution and both companies will contribute resources.
Lilly Oncology Senior Vice President of Product Development and Medical Affairs Richard Gaynor says "the expansion of Lilly’s research partnership with AstraZeneca will explore the far-reaching potential of combining novel targeted therapies. Our respective pipelines afford multiple targeted options to create innovative combinations in immuno-oncology and beyond, that we hope will lead to future cancer treatment options."
Lilly has several additional partnerships underway involving combination clinical trials. A collaboration was started earlier this year between Lilly and AstraZeneca studying the combination of durvalumab and ramucirumab for patients with advanced solid tumors.
Earlier this month, Lilly also detailed partnerships with Innovent Biologics Inc. in China regarding drug development and with California-based ImaginAb Inc. on research.
This week, Lilly reported third quarter net income of $799.7 million, which was up from $500.6 million during the same period the previous year and exceeded analysts’ expectations.