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:6/24/2016)... FRANCISCO, Calif. , June 24, 2016 /PRNewswire/ ... ), a biopharmaceutical company developing novel therapeutics for ... unmet needs, today announced the closing of its ... of common stock, at the public offering price ... in the offering were offered by GBT. GBT ...
(Date:6/24/2016)... , June 24, 2016 The Academy ... of recommendations that would allow biopharmaceutical companies ... with entities that make formulary and coverage decisions, a ... "value" of new medicines. The recommendations address ... not appear on the drug label, a prohibition that ...
(Date:6/24/2016)... , June 24, 2016 According ... by Type (Standard Pen Needles, Safety Pen Needles), Needle ... GLP-1, Growth Hormone), Mode of Purchase (Retail, Non-Retail) - ... This report studies the market for the forecast period ... reach USD 2.81 Billion by 2021 from USD 1.65 ...
Breaking Medicine Technology:
(Date:6/23/2016)... ... June 23, 2016 , ... vcfo, a consulting firm that ... to announce the promotion of Mike Mackey to Regional Vice President of Southeast ... was responsible for managing client projects and overseeing vcfo financial consultants in the ...
(Date:6/23/2016)... ... ... Virginia Beach resident Sean Kelly suffered from depression after a long military career ... set out to accomplish a personal mission: a solo 50-mile paddle. Kelly decided to ... the story of another special operations veteran, Josh Collins, whom Kelly had served with ...
(Date:6/23/2016)... ... June 23, 2016 , ... Horizon Blue Cross Blue ... seeking relief from the crushing burden of sky-high health care costs, Superior Court ... their ruling ( http://www.judiciary.state.nj.us/opinions/a2913-15a2929-15.pdf ) the court provided some analysis of the ...
(Date:6/23/2016)... (PRWEB) , ... June 23, 2016 , ... ... has been approved to train physicians within its Graduate Medical Education program, this ... (ACGME) means MHS can begin enrolling doctors for residency training that will begin ...
(Date:6/23/2016)... , ... June 23, 2016 , ... King Kullen’s Shop ... offering service to yet another location: Garden City Park. This is the fourth store ... , Online grocery delivery service is offered by King Kullen and allows customers to ...
Breaking Medicine News(10 mins):