Eli Lilly Considers Sale of China Assets to Raise Cash

Eli Lilly & Co. is considering the sale of a portfolio of off-patent drugs in China as the pharmaceutical firm seeks to raise cash amid a push into higher-growth products, people familiar with the matter said.

Indianapolis-based Lilly is working with advisers to gauge interest in a selection of older drugs for antibiotics and central nervous system diseases in China, the people said, asking not to be identified because the matter is private. The portfolio could fetch $200 million to $300 million, the people said.