Good evening. Does anyone have recent news from Glenmark R&D? A friend of mine working for them told me that Eli Lilly is about to terminate its license agreement on the 6211 molecule. During a meeting in June, Lilly have pointed out issues on cardiovacular safety and CYP inhibition (CYP is an enzyme which takes part in the metabolisation of drugs). As a failure on these two criteria can lead to the termination of the agreement, Glenmark expects Lilly to raise the issue in the coming days.
I don't see anything about it on the internet, are they hiding this information? After the failure with Merck on Melogliptin (GRC-8200), this would be a disaster.
As 6211 and 8200 can be valued at 150 Rs together, I think a 450-500 Rs price would be more accurate than the current 700-800 targets, which seems to me very expensive.
As my friend is very reliable, I sold my stocks. What are you thoughts?