Eli Lilly (LLY) Expands Pipeline with Clazakizumab Agreement, Reuters Reports

Eli Lilly and Company (NYSE:LLY) is included among the 16 Best Dividend Stocks with Rising Payouts.

According to a Reuters report on February 18, Australia’s CSL said it had granted Eli Lilly and Company (NYSE:LLY) certain rights to develop and commercialize clazakizumab, an anti-interleukin-6 monoclonal antibody. In return, CSL will receive an upfront payment of $100 million. CSL will keep exclusive rights to develop and commercialize the treatment for preventing cardiovascular events in patients with end-stage kidney disease.

Under the agreement, Eli Lilly will focus on developing and commercializing the therapy in other areas. CSL could also receive additional payments tied to clinical, regulatory, and commercial milestones, along with royalties based on global net sales.

In a separate update, a February 12 Reuters report said Eli Lilly had built up $1.5 billion in pre-launch inventory for its experimental oral weight-loss drug. This was disclosed in a regulatory filing ahead of a possible U.S. Food and Drug Administration decision expected in April.

The company had previously reported about $550 million in pre-launch inventory for the drug, known as orforglipron. Lilly has said it expects to have enough supply ready to support a launch across several countries at roughly the same time, if the drug receives approval. Drugmakers typically report such inventory in their financial filings to show how much product has been prepared ahead of potential regulatory clearance.

Eli Lilly and Company (NYSE:LLY) is a pharmaceutical firm that discovers, develops, manufactures, and sells medicines to patients around the world.

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