ELI LILLY SELLS DRUG BRAND TO ELDER

Eli Lilly India has struck a deal to sell its anti-infective drug Tobraneg to Mumbai-based Elder Pharma. This is the second product that the U.S. MNC is selling in the recent months, the first being Dobutrex to Nicholas Piramal India late last year. Though the exact price details of the acquisition deal could not be ascertained immediately, sources familiar with the deal said Elder would be paying roughly 1.25 percent times of the turnover of the brand. Tobraneg has mopped up about Rs 5 crores in sales last year.

The Economic Times (http://economictimes.indiatimes.com/articleshow/982005.cms)