Shares of Eli Lilly & Co. LLY gained 0.5% in premarket trading Monday, after the drugmaker announced an agreement to sell its hypoglycemia treatment for people with diabetes Baqsimi to Amphastar Pharmaceuticals Inc. AMPH for up to $1.075 billion in cash and potential milestone payments. Under terms of the agreement, Amphastar will pay $500 million in cash upfront and another $125 million in cash one year after the deal closes, which is expected to occur in the third quarter of 2023. Eli Lilly will also be eligible to receive milestone payments of up to $450 million based on sales. Lilly’s stock has gained 5.3% year to…
