Eli Lilly (LLY) Stock Strikes $8.5 Billion Deal With Chinese Biotech Partner

TLDR Eli Lilly (LLY) expanded its partnership with Innovent Biologics in a seventh collaboration deal announced Sunday The agreement grants Lilly exclusive worldwide development rights outside Greater China for new cancer and immunology drugs Innovent receives $350 million upfront with potential milestone payments reaching $8.5 billion total Partnership shifts from licensing existing drugs to joint [...]

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