Lilly Comments on Court Ruling in Amylin Litigation
INDIANAPOLIS , May 25, 2011 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today commented on a ruling issued by the U.S. District Court for the Southern District of California granting a request by Amylin Pharmaceuticals for a temporary restraining order (TRO) related to litigation involving the two companies' diabetes collaboration agreement.
"We are disappointed with the Court's decision to grant a temporary restraining order in this case," said Robert A. Armitage , senior vice president and general counsel for Lilly. "We have complied with our contractual obligations under our agreements with Amylin in a manner fully consistent with all applicable laws. We believe that Amylin's allegations against Lilly are entirely without merit and we fully expect to prevail in this litigation."
Enrique Conterno , president of Lilly Diabetes, said, "The focus of our business remains on the patients we serve. We seek to offer a broad range of treatment options, including important new therapies, to people with diabetes and their health care providers."
Lilly is taking the appropriate steps to comply with the Court's order, including as it relates to the activities of its sales force, while working to mitigate the impact of any temporary modifications to its diabetes business.
Lilly, a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind. , Lilly provides answers — through medicines and information — for some of the world's most urgent medical needs. Additional information about Lilly is available at www.lilly.com. C-LLY
This press release contains forward-looking statements about our alliance with Amylin, and it reflects Lilly's current beliefs. There are substantial risks and uncertainties in the process of drug development and commercialization. Further, we cannot predict the outcome of any litigation with Amylin or its effect on our collaboration. For further discussion of risks and uncertainties, please see Lilly's latest Forms 10-Q and 10-K filed with the U.S. Securities and Exchange Commission . Lilly undertakes no duty to update forward-looking statements.