Eli Lilly, InnoCare Pharma Sign Drug Research Deal Worth Up to $3.25 Billion

03:33 AM EDT, 09/24/2026 (MT Newswires) -- Eli Lilly (LLY) and InnoCare Pharma agreed to collaborate on developing new medicines targeting up to five targets, InnoCare said Thursday. Under the agreement, InnoCare said it will use its drug discovery platform to identify and develop compounds for the targets, while Lilly will support the collaboration. InnoCare is eligible to receive up to $100 million in upfront and near-term payments and about $3.25 billion in development and commercial milestone payments, the company said. It added it will also receive tiered royalties in the single digits on annual net product sales.