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Hanmi Pharmaceutical's arthritis drug deal nixed

All Headlines 09:39 January 23, 2019

SEOUL, Jan. 23 (Yonhap) -- Hanmi Pharmaceutical said Wednesday that its partner Eli Lilly and Company would hand back its licensed new drug candidate BTK inhibitor in rheumatoid arthritis and its commercialization rights.

In 2015, the South Korean drugmaker struck a US$700 million licensing deal with Eli Lilly to export the drug.

Lilly got global rights to the molecule in development and marketing, excluding South Korea.

Lilly paid Hanmi $50 million up front and agreed to pay a further $640 million in potential development and sales milestones.

But last year, Lilly ended phase 2 trials of its BTK inhibitor as interim results were ineffective.

"This month, Lilly has decided to hand back rights to the drug back to us, and we are going to receive all trial data and related ones after the licensing-out deal within 90 days," Hanmi said in a regulatory filing.

Hanmi has secured a series of licensing-out deals with global firms including Sanofi.

Hanmi Pharmaceutical's arthritis drug deal nixed - 1


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