DAVOS-Eli Lilly stays "very committed" to inhaled insulin
DAVOS, Switzerland, Jan 24 (Reuters) - U.S. drugmaker Eli Lilly and Co (LLY.N) remains "very committed" to developing an inhaled form of insulin, despite recent decisions by competitors to abandon rival products.
Chief Executive Sidney Taurel said on Thursday the powdered insulin product it is developing with Alkermes Inc (ALKS.O), known as Air Insulin, was significantly different.
Denmark's Novo Nordisk (NOVOb.CO) said 10 days ago it was halting development of its AERx inhaled insulin product, dealing a second blow to the concept after Pfizer Inc (PFE.N) in October abandoned its involvement with Exubera.
"There are a number of differences between our product and those two," Taurel told Reuters at the World Economic Forum annual meeting in Davos.
"It's a very, very practical and convenient device. We are also doing a lot of outcomes studies in order to show the payers the benefits of the drug ... We will know for sure once all of the studies are finished later on this year but we continue to be very committed to it."
It remains to be seen just how big a product Air Insulin might be, given the lack of interest shown by consumers and doctors in Exubera, the only inhaled insulin to get to market.
Asked if Air Insulin could be a blockbuster -- an industry term for drugs with annual sales of more than $1 billion -- Taurel said it was too early to tell.
"I think it's going to be an important product if the data comes out correct, which we hope," he said.
The promise of inhaled insulin treatment is that needle-wary diabetics can avoid jabs. But industry analysts say developing the market will be challenging and any successful product may only be used by a narrow group of patients, since it will likely be more expensive than injections.
The pharmaceutical industry is going through a lean patch, with the number of new drugs approved last year by the U.S. Food and Drug Administration the lowest in around two decades.
Taurel said both a tougher regulatory environment and fewer submissions from companies were to blame. Further off, however, he sees things improving.
"When you look at the Phase II and Phase I pipelines of companies, they are very plentiful and, even accounting for accretion, we should see a revival at the beginning of the next decade in terms of the number of new products being submitted and hopefully approved," he said.
For full coverage, blogs and TV from Davos see: here (Editing by Sue Thomas)
