Hanmi Pharma and Lilly Sign $690 Million Deal for Autoimmune Drug

South Korea's Hanmi Pharmaceutical has out-licensed rights to its novel clinical-stage treatment for autoimmune diseases to Ely Lilly in exchange for $50 million upfront and a package of up to $640 million in milestones plus double-digit royalties. Lilly will have global rights to the drug with the exception of China, Hong Kong, Taiwan and South Korea, which Hanmi will retain. Hanmi has a China subsidiary, Beijing Hanmi, a JV that it formed in 1996 for drug manufacturing and management of its China sales. More details.... Stock Symbol: (NYSE: LLY) Share this with colleagues: // //