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Eli Lilly subsidiary secures exclusive rights to veterinary drug

Elanco US Inc. secured the exclusive global rights to Jaguar Animal Health Inc.'s Canalevia for the potential treatment of acute and chemotherapy-induced diarrhea in dogs.

The Eli Lilly & Co. subsidiary will pay Jaguar Animal $1.5 million in up-front payment and another $61 million tied to the completion of certain milestones for the drug, which is currently under investigation.