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news.Eli Lilly and Bristol-Myers Squibb (BMS) have agreed to transfer rights to Erbitux (cetuximab) in North America, including the US, Canada and Puerto Rico, from BMS to Lilly.
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As part of the deal, BMS has transferred full commercialization and manufacturing operational responsibilities to Lilly.
The companies’ decision comes after a 14-year successful collaboration, which includes ImClone, Lilly’s wholly-owned subsidiary.
Lilly Oncology senior vice-president and president Sue Mahony said: "Fully bringing Erbitux into the Lilly Oncology portfolio accelerates Lilly’s commitment and leadership in gastrointestinal cancers to include an effective treatment for advanced colorectal cancer as well as head and neck cancer.
"Our good work on Erbitux began with its development at ImClone and has continued with Bristol-Myers Squibb. We look forward to carrying on these efforts for people battling select advanced colorectal and head and neck cancers."
BMS and Lilly will work closely to ensure a smooth transition on this product for patients with certain advanced colorectal and head and neck cancers.
The transition is scheduled to be completed in the fourth quarter of 2015.
BMS will receive tiered royalties based on net product sales in North America following the completion of the transition through September 2018.
Bristol-Myers Squibb head of worldwide markets Murdo Gordon said: "Bristol-Myers Squibb is incredibly proud to have built Erbitux into a major brand and an important therapy for so many patients with certain colorectal and head and neck cancers.
"This agreement further aligns our Oncology organization with our prioritized opportunities in immuno-oncology, across both solid tumors and hematologic malignancies."