New Delhi, Feb 26 (UNI) Drugmaker Nicholas Piramal India Ltd today said its recently de-merged research unit has begun initial clinical trials in Europe for Eli Lilly's experimental drug being developed by it.
The drug, P1201-07, is being developed to treat metabolic disorders, a company statement said.
''This is our fourth new drug to enter the clinic and the first from the research collaboration with pharma major Eli Lilly,'' company Director (Strategic Alliances and Communications) Swati Piramal said in a statement.
Nicholas had signed a deal with US-based Eli Lilly last year to develop P1201 drug in return for certain milestone payments. Earlier this month, the Indian firm signed a second deal with Eli Lilly for two more drug leads.
Leading drug firms across the globe are increasingly outsourcing new drug development activities to Indian drug companies to cut costs.
UNI SR MP SSC1259