Eli Lilly and Co. will divest BAQSIMI worldwide to and Amphastar Pharmaceuticals Inc., a global pharmaceutical company focused on developing, manufacturing, and marketing injectable, intranasal, and inhalation products including experience with a glucagon product.
BAQSIMI is the only nasally administered glucagon for the treatment of severe hypoglycemia in people with diabetes.
Amphastar expects to provide dedicated commercial investment for BAQSIMI with the goal of enabling more people on insulin to be prepared with a glucagon rescue treatment for severe hypoglycemia.
"Our portfolio of therapies continues to make life better for people with diabetes, and we will continue this important mission while also increasing our focus on advancing our pipeline of potential breakthrough treatments," said Mike Mason, executive vice president and president, Lilly Diabetes and Obesity. "BAQSIMI's positive impact has been felt by people with diabetes around the globe and we're working closely with Amphastar to facilitate a successful transition and consistent patient experience."
Lilly launched BAQSIMI in 2019 as an option to quickly render aid in rescue situations for people with diabetes who take insulin. It is currently available in 27 international markets. Worldwide sales for BAQSIMI totaled $139.3 million in 2022.
"The acquisition of BAQSIMI will integrate our core strategic vision of strengthening our proprietary products profile in addition to enhancing our diabetes portfolio offering. We are optimistic about BAQSIMI's growth potential as it is the first and only commercial intra-nasal glucagon demonstrated to treat low blood sugar emergencies," said Jack Zhang, Ph.D., Amphastar president and CEO.