Eli Lilly Signs 3 Billion Dollar Deal With Haisco Unit
Eli Lilly has entered a collaboration and licensing agreement with a unit of Haisco Pharmaceutical Group for innovative drug projects. The deal includes up to 3 billion dollars in milestone payments and grants Lilly worldwide rights to select assets outside of Greater China.
ELI LILLY & CO signed a deal with a unit of Haisco Pharmaceutical Group for experimental drug projects with potential payments of up to $3 billion if milestones are met. The agreement expands the drugmaker's existing partnerships within the biotech sector in China. This structure provides Haisco with $87 million in upfront payments plus conditional milestone-based compensation.
Haisco disclosed the collaboration in a filing to the Shenzhen stock exchange on Monday morning. Lilly will secure worldwide rights to specific assets outside mainland China, Hong Kong, Macao, and Taiwan.
