Navigation Links
Lilly Announces Completion of Alnara Acquisition
Date:7/20/2010

INDIANAPOLIS, July 20 /PRNewswire-FirstCall/ -- Eli Lilly and Company (NYSE: LLY) today announced that it has completed the acquisition of Alnara Pharmaceuticals, Inc., a privately-held company developing protein therapeutics for the treatment of metabolic diseases. The transaction, first announced on July 2, 2010, has received the approval of Alnara stockholders and clearance under the Hart-Scott-Rodino Antitrust Improvements Act. All other closing conditions have also been met.

Alnara's lead product in development is liprotamase, a non-porcine pancreatic enzyme replacement therapy (PERT). Liprotamase is under review by the U.S. Food and Drug Administration for the treatment of exocrine pancreatic insufficiency (EPI). Causes of EPI include cystic fibrosis, chronic pancreatitis, pancreatectomy and other conditions.

Under the terms of the agreement, Lilly acquired all outstanding shares of Alnara for an upfront payment of $180 million, subject to adjustment based on existing cash on hand at closing. Alnara stockholders will also be eligible for up to $200 million in additional payments contingent upon potential future regulatory and commercial milestones. The impact of the acquisition will be reflected in Lilly's third quarter 2010 financial statements.

About Eli Lilly and Company

Lilly, a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers – through medicines and information – for some of the world's most urgent medical needs.  Additional information about Lilly is available at www.lilly.com.  C-LLY

This press release contains forward-looking statements about the benefits of a merger between Lilly and Alnara and the potential of Alnara's product pipeline. It reflects Lilly's and Alnara's current beliefs; however, as with any such undertaking, there are substantial risks and uncertainties in the process of implementing the transaction and in drug development.  There is no guarantee Lilly will realize the expected benefits of the transaction, or that liprotamase will be approved by the FDA on the anticipated timeline or at all, that liprotamase will be commercially successful, or that Alnara's pipeline will yield commercially successful pharmaceutical products.  For further discussion of these and other risks and uncertainties, please see Lilly's latest Form 10-Q filed April 2010 and Form 10-K filed February 2010. The company undertakes no duty to update forward-looking statements.

(Logo:  http://photos.prnewswire.com/prnh/20031219/LLYLOGO )

(Logo:  http://www.newscom.com/cgi-bin/prnh/20031219/LLYLOGO )


'/>"/>
SOURCE Eli Lilly and Company
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. FDA Approves Lillys Osteoporosis Drug EVISTA(R) (raloxifene HCl) to Reduce The Risk of Invasive Breast Cancer in Two Populations of Postmenopausal Women
2. Lilly Files for European Approval of ALIMTA(R) (pemetrexed for injection) for First-Line Treatment of Non-Small Cell Lung Cancer
3. Lilly and Glenmark Pharmaceuticals Announce License Agreement
4. Lilly Receives NCQA Design Certification for Depression Care Management Program
5. JDRF and Lilly Partner to Fund Research to Identify Beta Cell Biomarkers
6. FDA Grants Priority Review for Daiichi Sankyo, Lilly Drug, prasugrel
7. Statement from Eli Lilly and Company: Response to Connecticut Attorney General News Release
8. Lilly and Transition Therapeutics Announce Licensing and Collaboration Agreement
9. Lilly Launches Its First Phase III Trial for Treatment of Alzheimers Disease
10. Daiichi Sankyo/Eli Lillys Effient and Astrazenecas Ticagrelor May Offer Advantages in the Treatment of Post-Myocardial Infarction
11. Lilly Submits Cymbalta(R) Supplemental New Drug Application for Chronic Pain to U.S. Food and Drug Administration
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/28/2017)... Prefilled Syringes Market: Scope and Segmentation ... This report provides a forecast and analysis of ... regional levels. It provides historical data of 2015 ... terms of revenue (US$ Mn) and volume (Bn ... with an outlook on prefilled syringes consumption globally. ...
(Date:2/28/2017)... -- Summary This report provides all the ... its partnering interests and activities since 2010. Read ... Partnering Deals and Alliance since 2010 report provides an ... the world,s leading life sciences companies. On ... inclusion of the most up to date deal and ...
(Date:2/28/2017)... , Feb. 28, 2017 Summary ... This report provides all ... its partnering interests and activities since 2010. Read the ... and Alliance since 2010 report provides an in-depth insight into ... sciences companies. On demand company reports are prepared ...
Breaking Medicine Technology:
(Date:3/1/2017)... ... March 01, 2017 , ... Cognition Corporation ... a Human Factors Engineering (HFE) keynote speaker for its 2017 User Conference. , ... Cognition. “Human Factors is a dynamic part of product development, and our speaker ...
(Date:3/1/2017)... IL (PRWEB) , ... March 01, 2017 , ... First ... its latest funding round of $1.6 million. First Stop Health has raised total capital ... accelerate the company’s growth. , First Stop Health co-founder and CEO Patrick Spain (co-founder ...
(Date:3/1/2017)... ... March 01, 2017 , ... One of the most popular shows on ... the beloved character Toby being shocked back to life after suffering cardiac arrest on ... quickly back to his old self, ready to marry his best girl. In ...
(Date:3/1/2017)... (PRWEB) , ... March 01, 2017 , ... ... the treatment of eating disorders, is pleased to announce the opening of residential ... facility. Starting this week, Aloria Health will accept adult clients for residential treatment. ...
(Date:3/1/2017)... , ... March 01, 2017 , ... ... Lung Cancer Conference® on April 8, 2017, in Sunny Isles Beach, Florida. The ... officer, Massachusetts General Physicians Organization, Boston, and Dr. Heather Wakelee, associate professor of ...
Breaking Medicine News(10 mins):