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This excerpt taken from the LLY 10-K filed Feb 22, 2010. Necitumumab
In January 2010, we restructured the collaboration agreement
executed by ImClone and BMS in 2001 to allow for the
co-development and co-commercialization of necitumumab, which is
currently in Phase III clinical testing for non-small cell
lung cancer. Within this restructured arrangement, we and BMS
have agreed to share in the cost of developing and potentially
commercializing necitumumab in the U.S., Canada, and Japan. We
maintain exclusive rights to necitumumab in all other markets.
We will fund 45 percent of the development costs for
studies that will be used only in the U.S., and 72.5 percent for
global studies. We will be responsible for the manufacturing of
API and BMS will be responsible for manufacturing the finished
product. We could receive a payment of $250.0 million upon
approval in the U.S. In the U.S. and Canada, BMS will
record sales and we will receive 45 percent of the profits for
necitumumab, while we will provide 50 percent of the selling
effort. In Japan, we and BMS will share costs and profits evenly.
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