Eli Lilly are to acquire CoLucid Pharmaceuticals for $960 million
Following on from the departure of John Lechleiter, President & CEO of global drug manufacturer and healthcare leader Eli Lilly and subsequent appointment of David Ricks, Senior Vice President, it has been recently announced that global drug manufacturer and healthcare leader Eli Lilly will acquire CoLucid in a new $960 million acquisition, or $46.50 per share.
CoLucid’s focus on supporting patients who suffer from migraines and subsequent trial of lasmiditan in clinical tests is scheduled to complete in 2017, with two trials recently completing.
If the trials are proved successful, treatment could be launched in the US in 2018 and would be welcomed by over 30 million individuals who suffer from migraines. Eli Lilly will also acquire other treatments CoLucid has been developing, such as the headache drug galcanezumab.
Interestingly, the breakthrough for lasmiditan originated at Eli Lilly, at which Thomas P. Mather, CoLucid's CEO stated, "We are proud of the work that CoLucid has done to develop lasmiditan, and we believe Lilly's expertise in pain and commitment to innovation are a natural fit to potentially bring this medicine to patients."
This investment firmly places Eli Lilly on the pharmaceutical map and cements their status within the industry.