Lilly to sell legacy antibiotics, Ceclor and Vancocin, to China-based partner in $375M deal
More than two years after Lilly partnered with specialty drugmaker Eddingpharm to exclusively distribute its decades-old antibiotics — Ceclor and Vancocin — in mainland China, the US drugmaker is offloading the legacy products to the China-based company in a $375 million deal.
Under the deal, Eddingpharm is also procuring a manufacturing facility in Suzhou, China that produces Ceclor. Lilly $LLY will receive a deposit of $75 million, followed by a payment of $300 million upon successful closing of the transaction, which is expected to consummate in the latter part of 2019 or early 2020.
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