US pharma major Eli Lilly (NYSE: LLY) has acquired worldwide rights to Canadian firm Locemia Solutions’ intranasal glucagon, a potential treatment for severe hypoglycemia in people with diabetes treated with insulin.
Intranasal glucagon, which is currently in Phase III clinical trial testing, could be the first needle-free rescue treatment for severe hypoglycemia, the company noted. Financial terms of the deal have not been disclosed. Lilly’s share close up 1.5% at $61.44 on the news on Friday.
“Exciting addition” to Lilly’s product portfolio
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