Amylin and Eli Lilly Agree to End Alliance Via First-of-Its-Kind Transaction

In a first-of-its kind deal in which a biotech firm is separating its relationship from a large pharmaceutical company, Skadden is representing Amylin Pharmaceuticals, Inc. in its agreement with Eli Lilly and Company to terminate their alliance for the diabetes drug exenatide, announced on November 8. The agreement, which resolves all outstanding litigation between the companies, will transition full responsibility for the worldwide development and commercialization of exenatide to Amylin. This transaction is valued at up to $1.6 billion.

Earlier this year, Skadden represented Amylin in a lawsuit alleging breach of a commercialization agreement for diabetes drugs and an antitrust claim against Eli Lilly, then successfully negotiated the settlement that resulted in this transaction.