Eli Lilly & Co. Inc. and Sosei Group Corp. said Friday they plan to develop and commercialize therapies for diabetes and metabolic diseases. Lilly is paying the Japanese drug maker an upfront payment of $37 million, with potential milestone payments up to $694 million in addition to tiered royalties on sales. Lilly’s stock is up 30.3% year-to-date, while Sosei’s shares, listed in Japan, have gained 16.7%. The S&P 500 has declined 18.2% so far this year.
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