SHANGHAI - Innovent Biologics, Inc. (HKEX: 01801) and Eli Lilly and Company (NYSE: NYSE:LLY), a pharmaceutical giant with a market capitalization of over $710 billion, have announced a new agreement granting Innovent the exclusive rights to import, market, distribute, and promote Lilly's Jaypirca® (pirtobrutinib) in Mainland China. According to InvestingPro data, Lilly stands as a prominent player in the Pharmaceuticals industry, with impressive revenue growth of 27% over the last twelve months. Jaypirca®, the first and only non-covalent Bruton's tyrosine kinase (BTK) inhibitor approved by the U.S. FDA and China's National Medical (TASE:PMCN) Products Administration, is indicated for the treatment of mantle cell lymphoma (MCL) in patients who have received at least two prior therapies, including a BTK inhibitor.
Under the terms of the partnership, Innovent will leverage its commercial capabilities within the Chinese market, while Lilly will continue to manage research and development as well as post-market medical affairs for the drug. This collaboration is aimed at addressing unmet clinical needs in the treatment of hematologic cancers and expanding patient access to innovative therapies. Lilly's strong financial position, with an industry-leading gross profit margin of 81%, suggests robust potential for continued R&D investment. For deeper insights into Lilly's financial health and 15 additional ProTips, consider accessing the comprehensive analysis available on InvestingPro.
Dr. Michael Yu, Founder, Chairman, and CEO of Innovent, emphasized the company's commitment to bringing innovative medicines to cancer patients and enhancing its oncology portfolio, which includes Jaypirca®. Huzur Devletsah, President and General Manager of Lilly China, expressed enthusiasm for the partnership's potential to support the 'Healthy China 2030' initiative by improving access to cutting-edge treatments for Chinese patients.
Innovent's strategic cooperation with Lilly dates back to March 2015, focusing on the development and commercialization of oncology medicines in China. This has expanded over the years to include a range of collaborative efforts in R&D and commercialization aimed at accelerating the availability of innovative medicines globally.
Jaypirca®'s approval in China represents a significant milestone for patients with relapsed or refractory MCL, offering a new therapeutic option that targets the BTK pathway. This pathway is a critical component in the progression of various B-cell leukemias and lymphomas.
The announcement of this agreement is based on a press release statement and reflects the ongoing partnership between Innovent and Lilly to enhance the availability of novel treatments in the Chinese pharmaceutical market. While Lilly currently trades above its InvestingPro Fair Value, the company maintains strong fundamentals with analysts forecasting continued earnings growth for the year ahead. For comprehensive valuation analysis and access to the detailed Pro Research Report covering Lilly's market position, visit InvestingPro.
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