INDIANAPOLIS, Aug. 22, 2019 /PRNewswire/ -- A Chicago-based arbitration panel has ruled in favor of Eli Lilly and Company (NYSE: LLY) in a claim filed by Adocia S.A. over the companies' prior collaboration on a rapid-acting insulin. The panel of three arbitrators ruled that Lilly acted appropriately regarding Adocia's intellectual property, and while they denied Lilly's smaller counterclaim, ruled that Lilly is not liable for damages.
"We're pleased with the panel's decision," said Michael J. Harrington, Lilly's senior vice president and general counsel. "Lilly conducts its business with integrity. We look forward to putting this matter behind us and focusing on the important work of discovering and developing new treatments for people living with diabetes."
Lilly and Adocia signed a collaboration agreement in December 2014. Lilly terminated the agreement and discontinued future development, manufacturing, and commercialization related to the program in January 2017.
About Eli Lilly and Company Lilly is a global health care leader that unites caring with discovery to create medicines that make life better for people around the world. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism. To learn more about Lilly, please visit us at lilly.com and lilly.com/newsroom. C-LLY