Bidders line up for MediGene's EndoTag drug-sources

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Wed Dec 10, 2008 9:10am EST

(Repeats story that moved on Tuesday with no changes to text)

By Patricia Uhlig and Frank Siebelt

FRANKFURT Dec 9 (Reuters) - Pfizer (PFE.N) and Eli Lilly (LLY.N) have submitted offers to buy marketing rights for MediGene's (MDGGn.DE) EndoTag as the contest over the promising pancreatic cancer drug heats up, two people close to the situation said.

"Pfizer is still interested in the global rights to the drug," one of the sources said on Tuesday, while another said Lilly had bid as well.

Two other drugmakers were expected to make offers before the end of the year, while Roche (ROG.VX) and Amgen (AMGN.O) had looked into the books, the sources said.

MediGene declined to comment.

MediGene expects peak annual sales of the drug, which is still in clinical trials, to surpass 1 billion euros ($1.29 billion).

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