New drugs based on old remedies

Eli Lilly, the pharmaceuticals company behind drugs such as the antidepressant Prozac, is turning to ancient Chinese remedies for a new source of treatments. Hutchison China Meditech (Chi-Med), the subsidiary of Hong Kong conglomerate Hutchison Whampoa, announced in August that it has struck a drug discovery and development deal with New York-based Eli Lilly. The deal will see Hutchison Medipharma, Chi-Med’s research and development arm, paid up to US$29 million in so-called ‘milestone fees’ for each drug candidate developed from the company’s vast collection of herbal compounds. The deal will initially focus on developing treatments in the areas of oncology and inflammation, with Chi-Med responsible for identifying candidates for clinical trial and Eli Lilly providing technical advice and development activities.

Daily Telegraph, 20 August 2007, 3.