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Panel favors Eli Lilly in dispute with Adocia over diabetes drug collaboration

Eli Lilly and Co. won support from a Chicago-based arbitration panel on a complaint filed by French drugmaker Adocia SA over the two companies' prior collaboration on a rapid-acting insulin.

The three arbitrators ruled in favor of Eli Lilly and said the company acted appropriately regarding Adocia's intellectual property. The panel also ruled that Eli Lilly is not liable for damages, according to a statement from the company.

Eli Lilly Senior Vice President Michael J. Harrington said the company was pleased with the panel's decision.

Indiana-based Eli Lilly walked away from an agreement with Adocia to develop ultra-rapid insulin BioChaperone Lispro in January 2017. The drug aims to treat patients with type 1 and type 2 diabetes.

Eli Lilly bought rights to the insulin in December 2014 with an upfront payment of $50 million and agreed to pay an additional $520 million to Adocia if certain milestones are achieved.