Eli Lilly and Co (NYSE:LLY) Gets FDA Tentative Approval for Diabetes Drug

Boston, MA 08/19/2014 (wallstreetpr) – Eli Lilly and Co (NYSE:LLY) received positive news on its insulin injection that can be used to control sugar levels in diabetic patients after the FDA granted it tentative approval. The drug named, Basaglar, can be used to provide long lasting blood sugar control when patients are taking their meals or during night time. Eli Lilly has also pointed out that the drug is not intended’ for the treatment of diabetic ketoacidosis. Basaglar has the same amino acids as currently being used insulin Glargine product and was approved for use with KwikPen, a pre-filled dosing device.

Sanofi’s Stand off

The next challenge that Eli Lilly will have to sort out in relation to the new drug is a litigation filed by Sanofi SA (ADR)(NYSE:SNY) against the same; the drug remains under an automatic stay order of up to 30 months awaiting the sorting out of the standoff. Sanofi is reportedly suing Eli Lilly on claims it infringed its seven patents related to insulin and devices used to deliver the drug. Eli Lilly and Co (NYSE:LLY)’s Glargine product is already considered’ biosimilar in other regions such as Europe where it also received approval although it is not considered’ biosimilar in the U.S.

Eli Lily Looking for a Global trade Name

The FDA is restricted to giving a final approval, until the end of the 30-month period. It may also approve the drug if the issue is sorted early. The tentative approval according to Eli Lilly and Co (NYSE:LLY) is another milestone on the company’s push to provide alternative options for patients suffering from diabetes across the globe, especially those in need of basal insulin treatment.

‘Basaglar’ the trade name was granted approval by the FDA and looks set to be used in the U.S markets once the product receive the final approval. Eli Lilly and Co (NYSE:LLY) and Boehringer Ingelheim are reportedly targeting a global trade name for the drug that will be used to market it outside the U.S

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Published by Brendan Byrne

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. You may contact Brendan via his email (brendanbyrne@wallstreetpr.com) or his Google+ page (https://plus.google.com/u/0/116608759701551457422).

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