Eli Lilly and Company And Alkermes Initiate Additional Phase 3 Study For Inhaled Insulin As Part Of Comprehensive Registration Program

INDIANAPOLIS, Ind. and CAMBRIDGE, Mass.--(BUSINESS WIRE)--April 26, 2006--Eli Lilly and Company (NYSE: LLY - News) and Alkermes, Inc. (Nasdaq: ALKS - News) today announced the initiation of a Phase 3 clinical trial required for registration for their AIR® Inhaled Insulin System(1) (AIR system), which is being investigated as an innovative treatment option for type 1 and type 2 diabetes. This study in type 2 diabetes patients is designed to compare A1C -- an average measure of blood sugar (glucose) over a three-month period -- between the AIR system and injectable pre-meal insulin. The study is part of the comprehensive Phase 3 pivotal program that began in July 2005.