Innovent Biologics and Lilly Enter into Commercialization Agreement for Verzenios® (abemaciclib) in Mainland China

Rhea-AI Summary

Innovent Biologics and Lilly (NYSE: LLY) signed a commercialization agreement for Verzenios (abemaciclib) in mainland China. Innovent gains sole commercialization rights, handling importation, marketing, distribution and promotion, while Lilly, as Marketing Authorization Holder, continues manufacturing, supply and development. Verzenios is NRDL-listed across early and advanced breast cancer indications.

Positive

• Innovent gains sole commercialization rights for Verzenios in mainland China
• Verzenios has NRDL Class B national reimbursement with early and advanced breast cancer coverage
• Agreement deepens Innovent–Lilly partnership to eight collaborations and seven partnered on-market products in China
• Innovent oncology portfolio expands to 19 products
• Lilly retains manufacturing, supply and development control while leveraging Innovent’s commercial network in China

Negative

• None.

News Market Reaction – LLY

-2.48%

-2.48% News Effect

On the day this news was published, LLY declined 2.48%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement expands Verzenios access in China via Innovent’s oncology network, adding to Lilly...

Analysis

This announcement expands Verzenios access in China via Innovent’s oncology network, adding to Lilly’s recent oncology and access milestones. Investors may track execution alongside ongoing insider net selling and low short positioning of about 1% for emerging risks.

Key Figures

NRDL inclusion year: 2021 NRDL renewal year: 2025 Partnership count: 8 collaborations +5 more

8 metrics

NRDL inclusion year 2021 Verzenios added to National Reimbursement Drug List Class B in China

NRDL renewal year 2025 Verzenios NRDL listing renewed covering early and advanced breast cancer

Partnership count 8 collaborations Eighth strategic collaboration between Innovent and Lilly

On-market partnered products 7 products Number of partnered, on-market products Innovent has in China

Portfolio size 19 products Total number of products in Innovent's portfolio

Company history 150 years Lilly’s stated duration of commitment to advancing human health

Proposed share sale 38,400,000 shares Proposed common stock sale reported in Form 144 filings

OSA notes coupon 1.625% Coupon on notes due 2026 removed from NYSE listing via Form 25

Historical Context

5 past events · Latest: Jun 26 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 26	EU CLL opinion	Positive	+7.1%	Positive CHMP opinion for Jaypirca in CLL across all therapy lines.
Jun 25	Obesity access update	Positive	+0.9%	Outlined Medicare GLP-1 Bridge program to broaden access to obesity drugs.
Jun 24	Centessa acquisition	Positive	+0.9%	Completed Centessa buyout to expand orexin agonist pipeline for sleep disorders.
Jun 22	Dividend declaration	Positive	+0.3%	Announced Q3 2026 cash dividend of $1.73 per share to shareholders.
Jun 10	Zepbound campaign	Positive	-0.7%	Launched national Zepbound OSA awareness campaign featuring Shaquille O'Neal.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

LLY has generally traded higher on positive pipeline and access news, with only occasional divergences.

Key Terms

cdk4 & 6 inhibitor, national reimbursement drug list (ndrl), marketing authorization holder (mah), esr1-mutated, +1 more

5 terms

cdk4 & 6 inhibitor medical

"Lilly's CDK4 & 6 inhibitor Verzenios® (abemaciclib) in mainland China"

A CDK4 & 6 inhibitor is a type of cancer drug that blocks two proteins (CDK4 and CDK6) that act like gears driving cell division, effectively putting brakes on the rapid growth of certain tumors. For investors, these drugs matter because clinical trial results, regulatory approvals, patent protection and market adoption directly influence a company’s revenue potential and risk profile, much like how a better brake system can change demand for a car model.

national reimbursement drug list (ndrl) regulatory

"The product was included in the National Reimbursement Drug List (NRDL) Class B in 2021"

A national reimbursement drug list (NDRL) is a government-approved catalog of medicines that public health insurance will pay for or subsidize. It determines which drugs are available to patients at reduced or no out-of-pocket cost, much like a school cafeteria menu decides which meals students can get for free or at a discount. For investors, inclusion on the NDRL can sharply increase a drug’s sales volume and stability, while exclusion can limit market access and revenue potential.

marketing authorization holder (mah) regulatory

"Lilly, as the Marketing Authorization Holder (MAH), will continue to be responsible"

The marketing authorization holder (MAH) is the legal entity that holds the official license from a health regulator to sell and be responsible for a medicine or medical product in a country or region. For investors, the MAH controls the right to market the product and carries the regulatory, safety and supply risks — like the registered owner of a car who must maintain it, insure it and answer if something goes wrong, which can affect revenue and legal exposure.

esr1-mutated medical

"only approved precision therapy in China only targeting ESR1-mutated advanced breast cancer"

ESR1-mutated means there is a change in the ESR1 gene that alters the estrogen receptor protein, which tells certain cells how to respond to the hormone estrogen. Investors should care because in hormone-driven cancers these mutations can make standard hormone-blocking treatments stop working, increasing demand for alternative drugs and diagnostic tests and affecting clinical trial outcomes and the commercial value of therapies — like a lock changing shape so the usual key no longer fits.

endocrine therapy medical

"in combination with endocrine therapy (tamoxifen or an aromatase inhibitor)"

Endocrine therapy is a medical treatment that reduces or blocks hormones that help certain tumors grow, for example by lowering production of the hormone or preventing it from attaching to cancer cells. Think of it as cutting off the fuel supply to slow or stop growth. Investors care because these therapies drive sales, long-term treatment demand, regulatory milestones and clinical trial outcomes that directly affect healthcare companies’ revenues and valuations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SAN FRANCISCO and SUZHOU, China, June 30, 2026 /PRNewswire/ -- Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures, and commercializes high-quality medicines for the treatment of oncology, autoimmune, cardiovascular and metabolic, ophthalmology and other major disease areas, and Eli Lilly and Company (NYSE: LLY) today jointly announced that they have entered into a distribution and promotion agreement regarding Lilly's CDK4 & 6 inhibitor Verzenios^® (abemaciclib) in mainland China:

• Innovent will be responsible for the importation, marketing, distribution and promotion of Verzenios^® (abemaciclib) in mainland China;
• Lilly will continue to be responsible for manufacturing, supply, and development for the product.

Verzenios^® (abemaciclib), developed by Lilly, is a CDK4 & 6 inhibitor that has been approved in China for multiple indications, including:

(1) Early Breast Cancer: in combination with endocrine therapy (tamoxifen or an aromatase inhibitor) for the adjuvant treatment of adult patients with hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative, node-positive early breast cancer at high risk of recurrence.
(2) Locally Advanced or Metastatic Breast Cancer:
a) For the treatment of hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative locally advanced or metastatic breast cancer:

• In combination with an aromatase inhibitor as initial endocrine-based therapy in postmenopausal women.
• In combination with fulvestrant for patients who have experienced disease progression following prior endocrine therapy.

b) In combination with imlunestrant: for the treatment of adult patients with estrogen receptor (ER)-positive, HER2-negative, ESR1-mutated locally advanced or metastatic breast cancer who have previously received endocrine therapy.

The product was included in the National Reimbursement Drug List (NRDL) Class B in 2021, becoming the first CDK4 & 6 inhibitor covered by national reimbursement in China. In 2025, it successfully renewed its NRDL listing, achieving full coverage across both early and advanced breast cancer indications.

Under the agreement, Innovent will hold sole commercialization rights for Verzenios^® (abemaciclib) in mainland China, while Lilly, as the Marketing Authorization Holder (MAH), will continue to be responsible for manufacturing, supply, and ongoing product development. This collaboration combines Innovent's experienced oncology commercialization team and extensive market reach in China with Lilly's expertise in innovative medicine development and lifecycle management, further enhancing access to this important therapy and benefiting more breast cancer patients across the country.

Dr. Michael Yu, Founder, Chairman of the Board and CEO of Innovent, stated: "We are delighted to further deepen our strategic partnership with Lilly through this eighth collaboration, bringing the number of our partnered, on-market products in China to seven. This also marks the 19^th product in Innovent's portfolio. Enhancing patient access to high-quality, innovative medicines has always been at the core of Innovent's mission. Leveraging our established commercial infrastructure and strong market presence in China, we remain focused on addressing critical unmet needs in major oncology indications. Breast cancer, one of the most prevalent and life–threatening malignancies among women, is a strategic priority within Innovent's oncology portfolio. Through this commercial collaboration with Lilly on Verzenios^® (abemaciclib) – backed by its robust clinical efficacy, comprehensive labeled indications and national reimbursement coverage – we are expanding our presence in this area, laying a solid foundation for our pipeline development and market expansion deliver lasting benefits to patients in breast cancer."

Huzur Devletsah, Lilly Group Vice President and China General Manager, said: "For 150 years, Lilly has remained committed to putting health above all, advancing human health through scientific innovation and expanding access through collaboration. This agreement for Verzenios^® (abemaciclib) is an important step in strengthening patient access in China, combining Lilly's global R&D expertise with Innovent's commercialization capabilities in China. Looking ahead, Lilly will continue to advance its oncology efforts in China. Since the beginning of this year, we have secured approvals for one new medicine (with two indications) and two new additional indications for on market products in China, including Inluriyo^®, which has become the first and currently only approved precision therapy in China only targeting ESR1-mutated advanced breast cancer, accelerating the introduction of globally innovative therapies and addressing unmet medical needs."

About Innovent
Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 19 products in the market. It has 1 asset in NMPA NDA review, 5 assets in Phase 3 or pivotal clinical trials and 14 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Lilly, Takeda, Pfizer, Roche, Sanofi, Incyte, LG Chem and MD Anderson Cancer Center.

Guided by the motto, "Start with Integrity, Succeed through Action" Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit www.innoventbio.com, or follow Innovent on Facebook and LinkedIn. 

Statement:
1) Innovent does not recommend the use of any unapproved drug (s)/indication (s).
2) Ramucirumab (Cyramza) and Selpercatinib (Retsevmo), Pirtobrutinib (Jaypirca) and abemaciclib (Verzenios) were developed by Eli Lilly and Company.
Disclaimer: Innovent does not recommend any off-label usage.

About Lilly 
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable.

Forward-Looking Statements of Innovent Biologics
This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Innovent, are intended to identify certain of such forward-looking statements. Innovent does not intend to update these forward-looking statements regularly.

These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Innovent with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Innovent's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Innovent's competitive environment and political, economic, legal and social conditions.

View original content:https://www.prnewswire.com/news-releases/innovent-biologics-and-lilly-enter-into-commercialization-agreement-for-verzenios-abemaciclib-in-mainland-china-302814010.html

SOURCE Innovent Biologics

FAQ

What did Lilly (LLY) and Innovent announce about Verzenios in China on June 30, 2026?

Lilly and Innovent announced a commercialization agreement granting Innovent sole rights for Verzenios in mainland China. According to Innovent, it will manage importation, marketing, distribution and promotion, while Lilly continues as Marketing Authorization Holder responsible for manufacturing, supply and ongoing product development.

Who is responsible for Verzenios (abemaciclib) commercialization under the Lilly (LLY) and Innovent China agreement?

Innovent will lead Verzenios commercialization in mainland China, holding sole commercialization rights. According to Innovent, it oversees importation, marketing, distribution and promotion, while Lilly, as Marketing Authorization Holder, remains responsible for manufacturing, supply and further development of abemaciclib in the country.

What breast cancer indications of Verzenios are covered in China under the Lilly (LLY)–Innovent deal?

Verzenios is approved in China for multiple early and advanced HR-positive, HER2-negative breast cancer indications. According to Lilly, uses include adjuvant early breast cancer with endocrine therapy and several regimens for locally advanced or metastatic breast cancer, including combinations with aromatase inhibitors, fulvestrant and imlunestrant.

How does NRDL reimbursement affect Verzenios access in China for Lilly (LLY) and Innovent?

NRDL reimbursement allows broader patient access to Verzenios across covered indications in China. According to Lilly, Verzenios entered NRDL Class B in 2021 and renewed in 2025, achieving national reimbursement across both early and advanced breast cancer indications, supporting wider clinical use.

How does the Verzenios agreement impact Innovent’s oncology portfolio and partnership with Lilly (LLY)?

The deal expands Innovent’s oncology portfolio and deepens its collaboration with Lilly. According to Innovent, this is their eighth collaboration, raising partnered on-market products in China to seven and total portfolio products to 19, strengthening its strategic focus on major oncology indications including breast cancer.

What role does Lilly (LLY) retain for Verzenios in China after the Innovent agreement?

Lilly remains responsible for Verzenios manufacturing, supply and development while partnering on commercialization. According to Lilly, it continues as Marketing Authorization Holder, contributing global R&D and lifecycle management expertise, while Innovent’s local commercialization team executes market access and promotion in mainland China.