Lilly, BMS Restructure Erbitux (Cetuximab) Collaboration in North America

Eli Lilly and Company and Bristol-Myers Squibb Company (BMS) have agreed to transfer rights to Erbitux (cetuximab) in North America, including the U.. Canada and Puerto Rico, from BMS to Lilly. Rights include, but are not limited to, full commercialization and manufacturing operational responsibilities. The companies' decision comes after a 14-year successful collaboration, which includes Lilly's wholly-owned subsidiary ImClone LLC. BMS and Lilly will work closely to ensure a smooth transition on this important product for patients with certain advanced colorectal and head and neck cancers.

"Fully bringing Erbitux into the Lilly Oncology portfolio accelerates Lilly's commitment and leadership in gastrointestinal cancers to include an effective treatment for advanced colorectal cancer, as well as head and neck cancer," said Sue Mahony, senior vice president and president of Lilly Oncology. "Our good work on Erbitux began with its development at ImClone and has continued with BMS. We look forward to carrying on these efforts for people battling select advanced colorectal and head and neck cancers."

"BMS is incredibly proud to have built Erbitux into a major brand and an important therapy for so many patients with certain colorectal and head and neck cancers," said Murdo Gordon, head of worldwide markets, BMS. "This agreement further aligns our oncology organization with our prioritized opportunities in immuno-oncology, across both solid tumours and hematologic malignancies."

The transition is expected to be completed in the fourth quarter of 2015. BMS will receive tiered royalties based on net product sales in North America after the completion of the transition through September 2018.