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)
Five years ago, GSK made headlines when it hired Emma Walmsley to become the first woman to run a major pharmaceutical company. Now the Big Pharma has brought in another woman to control the company’s finances. Julie Brown will be GSK’s next chief financial officer. Brown, currently the chief operating and financial officer at fashion and beauty brand Burberry Group, is set to replace Iain Mackay.
Moderna created a new role responsible for “building out the company’s organization to support its growing pipeline.” Starting first thing 2023, Juan Andres, Moderna’s manufacturing head, will step into this new role under the title president of strategic partnerships and enterprise expansion, the company said Thursday.
The latest takeover is anticipated to boost the presence of Torrent in the dermatology segment. Indian company Torrent Pharmaceuticals has signed a definitive agreement for the complete acquisition of Curatio Healthcare for $245.16m (Rs20bn).