Eli Lil­ly shut­ters a failed PhII for rheuma­toid arthri­tis, cloud­ing $690M Han­mi pact

Eli Lil­ly $LLY has just shut­tered a Phase II tri­al for an ex­per­i­men­tal Bru­ton’s TKI in­hibitor for rheuma­toid arthri­tis af­ter con­clud­ing that the near­ly two-year-old study was go­ing down in flames.

Lil­ly hasn’t put out any word on the tri­al fail­ure, but the phar­ma gi­ant reeled in the drug from South Ko­rea’s Han­mi Phar­ma­ceu­ti­cal in 2015 with a $690 mil­lion deal. Han­mi filed a note on the Phase II fail­ure with the coun­try’s fi­nan­cial reg­u­la­tors, ac­cord­ing to lo­cal press re­ports — in­clud­ing the Ko­rea Bio­med­ical Re­view. Han­mi’s shares took a beat­ing Mon­day morn­ing as in­vestors re­act­ed to the news.

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