Haisco Pharmaceutical Group Co., Ltd. (hereinafter referred to as "Haisco" or "the Company") announces that its wholly-owned subsidiary, Haisco Pharmaceutical Technology (Lhasa) Co., Ltd., signed the "Authorization and R&D Cooperation Agreement" with Eli Lilly and Company (hereinafter referred to as "Eli Lilly") on May 29, 2026. The two parties will engage in strategic cooperation for the research and development of innovative drugs across multiple disease areas.
According to the agreement, the Company will leverage its mature small molecule innovation technology platform and efficient new drug development capabilities to be responsible for the discovery and early R&D work of up to five innovative drug projects selected by Eli Lilly. Eli Lilly will obtain global exclusive rights to the relevant projects or exclusive rights outside mainland China, Hong Kong SAR, Macau SAR, and Taiwan, while the Company retains exclusive rights for certain projects in these regions.
The Company is entitled to receive a maximum upfront payment of $87 million and subsequent milestone payments of up to $2.967 billion, based on the achievement of specific clinical, regulatory, and commercialization milestones. Additionally, the Company will receive tiered sales commissions based on future net sales of the products.