Sinopharm Biotech and Lilly have reached a strategic cooperation for the research and development of innovative drugs, with milestone payments of up to 8.5 billion US dollars.

On February 8th, Sundia Biotech announced a strategic collaboration with Eli Lilly to jointly advance the global research and development of innovative drugs in the fields of oncology and immunology. According to the collaboration agreement, Sundia Biotech will lead the research and development work of the relevant projects from drug discovery to clinical concept verification in China. Eli Lilly will obtain the exclusive development and commercialization rights of the relevant projects outside of Greater China, while Sundia Biotech will retain all rights in the Greater China region. As per the terms of the agreement, Sundia Biotech will receive an upfront payment of $350 million; and upon achieving certain specific milestone events in the future, Sundia Biotech will also be eligible to receive up to a total of approximately $8.5 billion in research, regulatory, and commercialization milestone payments. In addition, Sundia Biotech will have the right to receive a sales royalty based on the net sales of each product outside of Greater China.