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Haisco Pharmaceutical to Sign Licensing Agreement with Eli Lilly

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Haisco Pharmaceutical (SHE:002653) subsidiary Haisco Pharmaceutical Technology (Lhasa) and Eli Lilly will sign a licensing and research collaboration agreement for five experimental drug projects, according to a Tuesday filing with the Shenzhen bourse.

Eli Lilly will obtain global exclusive rights to the projects, except in China, Hong Kong, Macau, and Taiwan, which Haisco will handle.

Haisco will be entitled to up to $87 million in upfront payments for five target projects from nomination to candidate compound confirmation, as well as up to $2.97 billion after achieving clinical, regulatory, and commercialization milestones.

The Chinese drug company will also receive single-digit tiered royalties on future product sales, Haisco said in a separate press release.

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