Eli Lilly Strikes Potential $960 Million Deal to License Rigel’s Investigational Anti-Inflammatory Drug

Eli Lilly has inked a global licensing deal with Rigel Pharmaceuticals for the company’s investigational anti-inflammatory drug, R552, in a pact worth potentially $960 million.

Under the deal, Lilly will pay Rigel an initial payment of $125 million, with Rigel eligible to receive a further $835 million in milestone-based payments.

Lilly will absorb all costs of launching R552 internationally, while Rigel will retain the right to co-sell the drug in the U.S. The drug will advance to phase 2 trials this year, the companies said.