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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