November 16, 2018 / 12:55 PM / a month ago

Eli Lilly considers sale of off-patent drug assets in China - Bloomberg

Nov 16 (Reuters) - Eli Lilly and Co is considering sale of an off-patent drugs portfolio in China, Bloomberg reported on Friday, citing sources.

The assets, which include antibiotics and treatments for central nerve diseases, could fetch between $200 million and $300 million and attract interest from companies in Asia, Bloomberg reported here

Lilly, which took its Elanco animal health unit public in September, has been refocusing on high-profit areas such as cancer as well as maintaining its leadership position in the diabetes market to drive growth as older treatments face increasing competition.

U.S.-based Lilly did not immediately respond to Reuters’ request for comment. (Reporting by Manas Mishra in Bengaluru; Editing by Shailesh Kuber)

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