Lilly cashes out on dapoxetine
Executive Summary
PPD will acquire patents to the premature ejaculation product dapoxetine from Lilly for $65 mil. Lilly will also receive 5% royalties on annual sales greater than $800 mil. The renegotiation of the development deal allows PPD to receive full royalties and milestones from Johnson & Johnson, where the product is in Phase III trials. Alza licensed dapoxetine from PPD prior to its merger with J&J (1"The Pink Sheet" Sept. 30, 2002, p. 29)...