Eli Lilly signs $497 million deal for dirucotide

12/29/2008

NEW YORK Eli Lilly & Co. may get some relief from its drying pool of patent-protected drugs.

The Indianapolis drug maker has signed an agreement worth $497 million with biotech firm BioMS Medical Corp. for the drug dirucotide, a treatment for multiple sclerosis.

Expiring patents on Lilly drugs place nearly $10 billion of the company's sales under threat.

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