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Eli Lilly to sell low blood sugar drug to Amphastar

Amphastar will pay $500 million at closing and another $125 million in cash after one year under the deal. Eli Lilly is also eligible to receive milestone payments of up to $450 million based on sales of Baqsimi, the only nasally administered drug to treat severely low blood sugar in people with diabetes.
  • Updated On Apr 24, 2023 at 05:28 PM IST
Read by: 100 Industry Professionals
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Bengaluru: Eli Lilly and Co will sell its low blood sugar drug Baqsimi to Amphastar Pharmaceuticals in a deal worth up to $1.08 billion, the two companies said on Monday.

Amphastar will pay $500 million at closing and another $125 million in cash after one year under the deal.

Eli Lilly is also eligible to receive milestone payments of up to $450 million based on sales of Baqsimi, the only nasally administered drug to treat severely low blood sugar in people with diabetes.

Worldwide sales for Baqsimi totaled $139.3 million in 2022, the companies said.
  • Published On Apr 24, 2023 at 05:21 PM IST
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