Eli Lilly: inks collaboration deal with KeyBioscience.
(CercleFinance.com) - On Thursday Eli Lilly announced its strategic collaboration with Switzerland's KeyBioscience, which is focused on the development of a new class of treatments for metabolic disorders such as type-2 diabetes.
Under the terms of the agreement, Lilly will receive worldwide rights to develop and market KeyBioscience's calcitonin and amylin receptors, whose activation is thought to improve insulin sensitivity and suppress food intake.
In exchange for these rights, KeyBioscience will receive an initial payment of 55 million dollars and will be eligible for additional milestone payments, as well as royalty payments on future sales.
After this deal, Lilly expects to record an acquired in-process research and development charge in its income statement in 2017 amounting to approximately 0.03 dollar per share.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Under the terms of the agreement, Lilly will receive worldwide rights to develop and market KeyBioscience's calcitonin and amylin receptors, whose activation is thought to improve insulin sensitivity and suppress food intake.
In exchange for these rights, KeyBioscience will receive an initial payment of 55 million dollars and will be eligible for additional milestone payments, as well as royalty payments on future sales.
After this deal, Lilly expects to record an acquired in-process research and development charge in its income statement in 2017 amounting to approximately 0.03 dollar per share.
Copyright (c) 2017 CercleFinance.com. All rights reserved.