17 April 2015 - Biopharmaceutical products company Bristol-Myers Squibb Company (NYSE:BMY) declared on Thursday an agreement to transfer the rights to Erbitux (cetuximab) in North America, including the US, Canada and Puerto Rico, to Eli Lilly and Company (NYSE:LLY).The companies added the rights include, but are not limited to, full commercialisation and manufacturing operational responsibilities of Erbitux (cetuximab), an epidermal growth factor receptor (EGFR) antagonist indicated for treatment of patients with certain advanced colorectal and head and neck cancers.Following a 14-year collaboration, Lilly's wholly-owned subsidiary ImClone and Bristol-Myers Squibb will work closely to ensure a smooth transition on Erbitux. Bristol-Myers Squibb will receive tiered royalties based on net product sales in North America after the completion of the transition through September 2018.This transition is expected to be completed in the fourth quarter of 2015.