Pharma BD Deal Intelligence
A licensing and research collaboration giving Eli Lilly rights to develop up to five discovery-stage programs from China's Haisco Pharmaceutical, worth roughly $3 billion in potential milestones against just $87 million upfront—a low-risk option play on undisclosed targets, though the minimal initial commitment reflects the very early, unproven stage of the science.
Lilly locks in 5-program R&D pact with China's Haisco worth up to $3B, but targets unclear. The companies are keeping details under wraps, with Haisco only…
Eli Lilly strikes a $3 billion Chinese drug deal. Framed against Trump's executive order imposing 100% tariffs on patented pharmaceutical imports, the article…
Lilly bets $3B+ to add China's Haisco to growing list of partners in five-program pact; $87M upfront.
Source summaries from our enrichment pipeline; follow links for originals.
All 10 sources with sentiment breakdown →
On May 29, 2026, Eli Lilly entered a licensing and research collaboration with China's Haisco Pharmaceutical Group to discover and develop up to five innovative target programs across multiple therapeutic areas (specific targets undisclosed). Haisco leads discovery and target identification; Lilly leads IND-enabling studies, clinical development and commercialization, obtaining exclusive worldwide rights to certain programs and rights outside Greater China to others, with Haisco retaining Greater China rights. Haisco is eligible for up to ~$87 million in upfront and near-term payments and up to ~$2.97 billion in downstream milestones, plus single-digit tiered royalties — a total potential value of roughly $3 billion.
Eli Lilly entered a licensing and research collaboration with Haisco to discover and develop up to five innovative target programs across multiple therapeutic areas (targets undisclosed). Haisco leads discovery/target identification; Lilly leads IND-enabling and clinical development with exclusive worldwide rights. Up to ~$3.05B ($87M upfront + up to ~$2.97B milestones).
Transaction between Eli Lilly and Haisco Pharmaceutical Group is pending completion. Assessment will be updated upon deal close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Eli Lilly and Company / Haisco Pharmaceutical Group Co., Ltd. (this deal) | 2026 | $3.1B | 58 |
| Eli Lilly and Company / Boehringer Ingelheim GmbH | 2011 | $444M | 89 |
| Eli Lilly and Company / Loxo Oncology, Inc. | 2019 | $8.0B | 88 |
| Eli Lilly and Company / Applied Molecular Evolution Inc. | 2003 | $400M | 88 |
| Eli Lilly and Company / ICOS Corporation | 2006 | $2.3B | 87 |
| Eli Lilly and Company / Novartis Animal Health | 2014 | $5.4B | 70 |
| Eli Lilly and Company / Incyte Corporation | 2009 | $755M | 69 |
← Browse all deals · How we score deals
More: 2026 deals · Eli Lilly and Company deals · Multiple (undisclosed) deals