Amylin & Lilly to Dissolve Diabetes Agreement
Amylin is to receive all rights related to two diabetes medications for a one-time, upfront fee of $250m.
San Diego-based biopharmaceutical firm Amylin Pharmaceuticals and Indianapolis-based pharmaceutical company Eli Lilly will dissolve their agreement surrounding diabetes medications Byetta and Bydureon.
Amylin is to receive all rights related to both medications for a one-time, upfront fee of $250m, with 15% of global net sales in revenue-sharing payments payable to Lilly up to $1.2bn.
The agreement relies on Bydureon receiving US FDA approval before 30 June 2014, with Lilly set to receive 8% of sales of exenatide products should the drug not be rubber-stamped for use in the US.
Lilly could also receive a one-off milestone payment of $150m fro
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