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news.Albany Molecular Research Inc has signed a new drug discovery research agreement with Eli Lilly and Company, continuing an ongoing relationship between the two firms that began in 1998.
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Under the terms of the new agreement, Albany Molecular Research will provide fee-for-service chemistry research on projects in strategic therapeutic areas identified by Eli Lilly.
Specific financial details of the research agreement have not been disclosed, but the contract will include fee-for-service provisions and is a continuation of a recently expired agreement between the two companies.
“We are delighted to continue our longstanding relationship with Lilly, one of the world’s leading pharmaceutical R&D organizations,” said Albany Molecular Research’s chairman, president and CEO, Dr Thomas D’Ambra.
Albany Molecular Research conducts R&D with many leading pharmaceutical and biotechnology companies and for its own internal discovery programs, as well as manufacturing active pharmaceutical ingredients through its wholly owned subsidiary, Organichem Corporation.
The company also announced recently that it has entered into a two-year research collaboration with Alcon Research Ltd to discover and develop ophthalmic pharmaceuticals.