BMS agrees to transfer Erbitux's North American business to Lilly

US drug majors Eli Lilly (NYSE: LLY) and Bristol-Myers Squibb (NYSE: BMY) have agreed to transfer the rights to Erbitux (cetuximab) in North America from Bristol-Myers Squibb to Lilly.

This covers the USA, Canada and Puerto Rico, and includes, but is not limited to, full commercialization and manufacturing operational responsibilities. The decision comes after a collaboration lasting 14 years.

Sue Mahony, senior vice president and president of Lilly oncology, 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.”