Eagle Pharma Shares up After It Says Settlement Reached With Eli Lilly

   By Stephen Nakrosis

Shares of Eagle Pharmaceuticals, Inc. (EGRX) are trading higher in Friday's market, after the company said it reached a settlement agreement with Eli Lilly and Co. (LLY) related to Pemfexy.

At 3:01 p.m. EST, Eagle Pharma shares had risen 2.77%, to trade at $60.78. The stock opened at $59.04 and earlier in the session fell as low as $58.54.

According to Eagle, the agreement releases all claims by all parties and allows for an initial entry of Pemfexy, a branded alternative to Alitma, into the market on February 1, 2022. Under the terms of the deal, Pemfexy will have an uncapped entry into the market on April 1 of that year, Eagle said.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 13, 2019 15:22 ET (20:22 GMT)

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