To Develop New Drugs for Cancer and Inflammation August 20, 2007 -- Chi-Med (London AIM: HCM), a division of Hutchison Whampoa, has signed a drug discovery and development deal with global pharma heavyweight Lilly. The two companies will seek to identify and bring to market new compounds that treat cancer and inflammation. The Hutchison MediPharma division of Chi-Med will be in charge of doing the work. It will receive up to a range of $20 million to $29 million per candidate, plus royalties on any commercialized drugs. More details...
