Lilly pulls out of licensing agreement for Axiron

8 September 2017

Australia’s testosterone manufacturer Acrux (ASK: ACR) saw its shares slide more than 30% to A$0.19 after announced that Acrux and US pharma major Eli Lilly (NYSE: LLY) have mutually agreed to terminate their licensing agreement for Axiron (testosterone).

Termination of the license in the US is effective immediately and termination of license outside the US will be effective 90 days thereafter. Global rights to the product will revert to Acrux. Lilly acquired rights to Axiron in 2010, under a deal with a potential $335 million to Acrux. The product gained US marketing approval in late 2010.

PMR and patent issues

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK