Haisco Pharmaceutical Group Co., Ltd. (002653), has entered into a licensing and research collaboration agreement with Eli Lilly and Company (LLY) to develop innovative medicines across multiple therapeutic areas.
Under the agreement, Haisco will be responsible for the discovery and identification of up to five innovative target programs, while Lilly will lead IND-enabling studies, clinical development, and commercialization. Lilly will obtain exclusive worldwide rights to certain programs, and exclusive rights outside mainland China, Hong Kong, Macau, and Taiwan (the "Haisco Territory") for others, with Haisco retaining rights within its territory.
"This collaboration is highly aligned with our international development strategy and is expected to generate sustainable value and long-term returns," said Dr. Pangke Yan, CEO of Haisco. "By partnering with a global biopharmaceutical leader such as Lilly, Haisco aims to accelerate the global development of innovative therapies and deliver high-quality treatment options to patients worldwide."
This marks the first license and research collaboration between Haisco and Lilly, reflecting a joint commitment to leverage each party's strengths in innovative drug development.
Financial terms include Haisco being eligible to receive up to $87 million in upfront and near-term payments, up to $2.967 billion in downstream milestones, and single-digit tiered royalties on future product sales.
Haisco, recognized as a benchmark enterprise in China's pharmaceutical sector, has built a diversified R&D pipeline spanning small-molecule drugs, biologics, and high-end generics. The company is advancing more than 50 R&D programs across pain management, oncology, and respiratory diseases, autoimmune disorders, metabolic diseases, and central nervous system disorders, with over 10 programs already in pivotal clinical stages.
The company invests more than 15% of its revenue annually into R&D, supported by major research centers in Chengdu, Shanghai, and Silicon Valley.
Haisco Pharmaceutical has traded between CNY 40.70 and CNY 62.65 over the past year. The stock is currently trading at CNY 50.13, down 2.79%.
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