Lilly buys CoLucid Pharmaceuticals
March 1, 2017Eli Lilly has completed acquisition of CoLucid Pharmaceuticals at a price of $46.50 per share through a second-step merger.
“We are pleased to announce the completion of our acquisition of CoLucid, which will enhance Lilly’s existing pain management portfolio and add a potential near-term launch to our late-stage pipeline,” said David R. Ricks, president and chief executive officer. “More than 36 million people suffer from migraine in the United States alone, and lasmiditan could represent the first significant innovation for the acute treatment of migraine in more than 20 years.”
Lilly will include the acquisition and expected acquired in-process research and development charge of approximately $850 million (no tax benefit), or approximately $0.80 per share approximately $0.80 per share in first-quarter 2017 financial statements.
