Eli Lilly and InnoCare Pharma Ink $3.35 Billion Deal

Eli Lilly and Company entered into a research collaboration and licensing agreement with Beijing-based InnoCare Pharma valued at up to approximately $3.35 billion. The deal leverages InnoCare's drug discovery platform to identify and advance compounds targeting up to five specific targets.

Under the financial terms, InnoCare is eligible for up to $100 million in upfront and near-term payments. An additional $3.25 billion is available through development and commercial milestone payments, and InnoCare will receive tiered, single-digit royalties on future annual net sales of products resulting from the partnership.

While InnoCare specializes in medicines for cancer and autoimmune diseases, Eli Lilly has not yet specified which disease areas the collaboration will cover.