International law firm Dorsey & Whitney LLP is pleased to announce that it has received the prestigious China Business Law Journal’s 2019 Deals of the Year for Eddingpharm Group acquiring Eli Lilly China rights.
Eddingpharm, a China-based specialty pharmaceutical company, and Eli Lilly, a U.S. pharmaceutical company, entered into an agreement pursuant to which Eddingpharm would acquire Eli Lilly’s rights in China for two well-known antibiotics products, Ceclor® and Vancocin®, as well as its Ceclor manufacturing facility in Suzhou, China, for a total purchase price of US$375 million. Ms. Miaojie Chen, Vice President, Legal Department, and Mr. Miles Pan, Legal Director, of Eddingpharm led a team of several law firms in providing legal advice to Eddingpharm in connection with this transaction.
Dorsey represented Eddingpharm in this transaction as its lead outside counsel. The Dorsey team was led by Catherine X. Pan-Giordano, the Corporate Group Head of the Firm’s New York office, and included David Mack, a Partner in the Corporate Group, and Michael McCormick, Co-Chair of the Technology Commerce Practice Group. Eddingpharm also engaged Fangda Partners as its PRC counsel, and Fangda Partners and Kirkland & Ellis as its financing counsel. Ropes & Gray acted as Eli Lilly’s lead outside counsel in this transaction.
China Business Law Journal selects the winning deals on a number of factors, not just large monetary values. The overall significance, complexity and innovative nature of the deals were also considered, as well as the deal size and broader interests.