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From Times Staff and Wire Reports

Lilly Buys Marketing Rights to Drug: In the latest in a series of deals to market products developed by other companies, Eli Lilly & Co. said it was investing at least $100 million in Centocor Inc. The company, based in Malvern, Pa., is working on an antibody to fight septic shock, an often-fatal bacterial infection. Indianapolis-based Lilly paid $50 million for 2 million shares of Centocor, or nearly a 5% stake in the company. Centocor’s stock value has plummeted as the company struggles for federal approval of its drug, HA-1A-Centoxin. Lilly will also pay Centocor $50 million toward the development of Centoxin and, if the drug receives Food and Drug Administration approval, will exercise an option to pay $25 million for the marketing rights of a second drug, CentoRx, an anti-blood-clotting agent.

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