Eli Lilly Amends its 2013 Agreement with Chi-Med to Commercialize Elunate (fruquintinib) in China

 Eli Lilly Amends its 2013 Agreement with Chi-Med to Commercialize Elunate (fruquintinib) in China

Eli Lilly Amends its 2013 Agreement with Chi-Med to Commercialize Elunate (fruquintinib) in China

Shots:

  • Chi-Med to receive 70%-80% of Elunate sales in the form of royalties, manufacturing costs and service payments with no upfront regarding this amendment. Lilly will maintain the exclusive commercialization rights and will continue to consolidate the sales of Elunate in China while Chi-Med retains all rights to fruquintinib outside of China
  • The agreement allows the company to deploy full resources of both companies to maximize the potential of the Elunate in China. From Oct 01, 2020, Chi-Med will be responsible to develop and execute all medical detailing, promotion, and marketing activities for the product in China
  • Fruquintinib is a highly selective and potent oral VEGFR 1/2/3 inhibitor, acts by minimizing off-target toxicities, improve tolerability and provide more consistent target coverage

Click here ­to­ read full press release/ article | Ref: PRNewswire | Image: StraitTimes

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

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