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Eddingpharm to Pay $375 Million for Two Lilly Antibiotics and a Suzhou Factory

publication date: Apr 23, 2019

Eddingpharm, a Hong Kong-headquartered China in-licensing company, agreed to pay $375 million to acquire China rights for two off-patent antibiotics from Lilly and the Suzhou factory that makes the antibiotics. Eddingpharm will pay $75 million upfront and $300 million when the deal closes, which is expected to be late 2019 or early 2020. The two antibiotics are Ceclor (cefaclor) and Vancocin (vancomycin). Lilly said the transaction will allow the company to concentrate on its core therapeutics areas. More details....

Stock Symbol: (NYSE: LLY)

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