Biotech Values

[DewDiligence]

PFE, LLY resurrect Tanezumab program in chronic pain:

http://finance.yahoo.com/news/pfizer-lilly-preparing-resume-phase-120000713.html

Pfizer Inc. and Eli Lilly and Company announced today that they are preparing to resume the Phase 3 clinical program for tanezumab. As a result, Pfizer expects to receive a $200 million upfront payment from Lilly in accordance with their collaboration agreement. This announcement follows a decision by the U.S. Food and Drug Administration (FDA) to lift the partial clinical hold on the tanezumab development program after a review of a robust body of nonclinical data characterizing the sympathetic nervous system response to tanezumab. The data were submitted to the FDA in February 2015.