Lilly, Takeda terminate contract

JAPAN Eli Lilly Japan and Takeda Pharmaceuticals have terminated an agreement to co-develop and co-market ruboxistaurin mesylate.

Ruboxistaurin mesylate is used to treat diabetic macular edema and diabetic peripheral neuropathy. The companies said that after looking at the overall results, the trials did not meet the criteria for Phase III studies and therefore they have agreed to terminate the contract.