Eli Lilly to Sell Baqsimi to Amphastar for ~$1B
- Lilly will receive $500M in cash at closing, ~$125M upon 1yr. anniversary of closing, ~$450M in additional sales-based milestones, based on annual sales of $175M & $200M and total net sales over 5yr. of $950M. The transaction is expected to close in Q3’23
- Lilly will be responsible for the development, manufacture & commercialization of Baqsimi. Amphastar will provide commercial investment for Baqsimi to help more insulin users be prepared with a glucagon rescue treatment for sev. hypoglycemia
- The acquisition of Baqsimi will integrate Amphastar’s strategic vision to expand its proprietary products & enhance its diabetes portfolio. Baqsimi is the first nasally administered glucagon for sev. hypoglycemia in diabetes patients & is available in 27 international markets
Ref: Eli Lilly | Image: Eli Lilly
Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at email@example.com.