INDIANAPOLIS--Eli Lilly sold U.S. marketing and sales rights of Axid, its antiulcer/gastrointestinal drug, to Bridgewater, N.J.-based Reliant Pharmaceuticals in exchange for an upfront fee, payments enabling Lilly to accrue expected Axid revenue and additional funds based on Reliant sales. Lilly said the agreement will allow it to direct resources to support several new products expected to be launched over the next few years. Lilly will continue to manufacture Axid (it's sold in about 80 countries) and retains worldwide rights.
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