Lilly acquires rights for hypogonadism treatment Axiron

INDIANAPOLIS Eli Lilly has acquired rights to a testosterone treatment from an Australian manufacturer, the drug maker announced this week.

Lilly said it bought a global license for Axiron from Melbourne, Australia-based Acrux for $50 million, plus up to $285 million in transfer and milestone payments, as well as potential royalties. A regulatory filing for the drug is under review by the Food and Drug Administration. The drug is used to treat testosterone deficiency in men, also known as hypogonadism.

“The addition of Axiron reinforces Lilly’s commitment to men’s health and, if approved, could provide a new treatment option for men suffering from low testosterone,” Lilly Bio-Medicines president Bryce Carmine said. “Lilly hopes to leverage our experience in men’s health to advance both the science and clinical outcomes for men with low testosterone.”