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The Medicines Company
Drug Names(s): LY333328, Ramvocid (EU)
Description: Oritavancin is a second-generation glycopeptide antibiotic. Glycopeptide antibiotics inhibit bacterial cell wall synthesis.
Deal Structure: On September 20, 2001, Eli Lilly and InterMune announced that InterMune acquired worldwide rights to oritavancin from Lilly. The agreement provides InterMune with exclusive worldwide rights to develop, manufacture and commercialize oritavancin. Upon closing, Lilly will receive a $50 million payment related to completion of certain near-term activities by the companies. Lilly will also receive significant milestone and royalty payments upon successful development and commercialization by InterMune.
On September 30, 2002, InterMune announced that Eli Lilly and Company elected to execute its option to buy down the royalty rate related to oritavancin per the original licensing agreement signed by the two companies last year. As a result, InterMune will pay Lilly $15 million in exchange for a reduction in royalty payments due Lilly on future worldwide sales of oritavancin.
In 2001, InterMune entered into an agreement with Abbott to provide bulk manufacturing of oritavancin. The...See full deal structure in Biomedtracker
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