Deals Report: Eisai regains ADC’s rights from BMS; Lilly’s latest radiopharma play

A nine-figure deal between Eisai and BMS fell apart this week as the U.S. pharma returned rights to an ADC, while Lilly struck a deal with radiopharma company Radionetics that includes a buyout option.

Three years after Bristol Myers Squibb Co. (NYSE:BMY) paid $650 million up front to share rights to farletuzumab ecteribulin (MORAb-202), Eisai Co. Ltd (Tokyo:4523) said the parties have terminated their collaboration, with global development and commercialization rights of the anti-FOLR1 antibody-drug conjugate reverting to Eisai. The Japanese pharma will keep its $450 million lump-sum payment, but refund a portion of the $200 million in R&D funding included in the upfront component...