Eli Lilly NYSE:LLY is expanding its China oncology reach through a new commercialization agreement with Innovent Biologics for Verzenios.
Under the deal, Innovent will handle importation, marketing, distribution and promotion of Verzenios in mainland China. The breast cancer drug, also known as abemaciclib, is a CDK4 and 6 inhibitor used in certain hormone receptor-positive breast cancer settings.
Lilly will remain responsible for manufacturing, supply and ongoing product development. It will also continue as the marketing authorization holder, while Innovent receives sole commercialization rights for the product in mainland China.
The deal gives Lilly a local partner with established commercial infrastructure in China, a key market for global drugmakers. For Innovent, it adds another major oncology product to its portfolio and deepens its long-running relationship with Lilly.