Alkermes And Eli Lilly and Company Team Up On Osteoporosis Drug

CAMBRIDGE, Mass. and INDIANAPOLIS--(BUSINESS WIRE)--Jan. 9, 2006--Alkermes, Inc. (Nasdaq: ALKS) and Eli Lilly and Company (NYSE: LLY) announced today that they have signed an agreement to develop and commercialize inhaled formulations of parathyroid hormone (PTH). The development program will utilize the Alkermes AIR(R) pulmonary drug delivery system. Lilly’s recombinant PTH, Forteo(R) (teriparatide (rDNA origin) injection), was approved in 2002 by the Food and Drug Administration (FDA) for the treatment of osteoporosis in postmenopausal women who are at high risk for bone fracture and to increase bone mass in men with primary or hypogonadal osteoporosis who are at high risk for fracture. The agreement was signed after completing extensive feasibility work.