Eli Lilly and Co said it would buy CoLucid Pharmaceuticals Inc for about $960 million to gain access to its experimental treatment for migraine.
Lilly, which has its own migraine-prevention drug in development, has agreed to pay $46.50 per CoLucid share, a premium of about 33 percent to the stock’s Tuesday close.
Migraine is a large but under-treated condition that affects roughly 36 million Americans. (Reporting by Natalie Grover in Bengaluru; Editing by Sriraj Kalluvila)
Source: Reuters
The companies will explore opportunities to apply Flagship’s innovative bioplatforms – an ecosystem that currently comprises 41 companies – to scientific challenges in disease areas within cardiometabolic and rare diseases and initiate research programmes based on these.
BD is expanding its long-running partnership with the blood collection company Babson Diagnostics. The two companies have been working together since 2019 on a device that can gather small volumes of blood from the capillaries in the fingertip without requiring any specialized training, and beginning with a focus on supporting primary care in retail settings.
Wednesday, Australian biotech CSL said (PDF) the regulatory review of its $11.7 billion acquisition of Switzerland’s Vifor Pharma will take “a few more months,” suggesting it won’t be able to close the transaction by June 2022 as previously expected.
