Published October 9, 2015 4:16pm EDT | Updated October 9, 2015 5:05pm EDT

Lilly Buys Rights To Intranasal Diabetes Treatment

Eli Lilly & Co. said Friday it bought the rights to a potential treatment for severe hypoglycemia in people with diabetes from Locemia Solutions. Intranasal glucagon could be "the first needle-free rescue" for the hypoglycemia and "an important innovation for people with diabetes" condition, Lilly said. Financial terms were not disclosed. Shares of Lilly were down 0.4% in late trading Friday after ending the regular session up 2.8%.