IBJNews

Lilly acquires biotech company with pancreatic drug

Back to TopCommentsE-mailPrintBookmark and Share

Eli Lilly and Co. has agreed to buy a Massachusetts-based biotech firm that is developing an enzyme-replacement therapy for disorders of the pancreas.

Alnara Pharmaceuticals Inc., which has attracted $55 million in venture capital in the past two years, recently submitted its drug to the U.S. Food and Drug Administration for market approval. The oral drug, called liprotamase, has shown in clinical trials that it can reverse a nutritional deficiency patients experience with specific pancreatic disorders.

That condition can be caused by cystic fibrosis, a disease that afflicts about 30,000 Americans and about 100,000 people worldwide, accord to Lilly and Alnara.

Financial terms of the deal were not disclosed, which means the deal is not large enough to have a material impact on Lilly’s finances.

However, Lilly must acquire new drugs in order to fill a gaping hole in its revenue expected to widen when its $5 billion-a-year drug Zyprexa begins to face generic competition in October 2011. Five years from now, five of Lilly’s bestselling drugs will have had their revenue sapped by generics, likely draining Lilly of more than $10 billion a year.

In 2009, Lilly had total revenue of $21.8 billion.

Lilly hopes that Alnara’s drug gains more acceptance among patients because it does not require them to take as many pills as existing treatments. Liprotamase is also not derived from pigs, as some current treatments are.

"The acquisition of Alnara provides Lilly with a promising entry into enzyme replacement therapy—an area with unmet medical needs as well as opportunities for novel compounds that give patients additional treatment options," said Bryce Carmine, president of Lilly’s BioMedicines division.

ADVERTISEMENT

  • Zyprexa can cause pancreatitis
    Lilly acquired a treatment for "specific pancreatic disorders".Lilly's mainstay drug Zyprexa can and has caused "specific pancreatic disorders".

    Indeed!

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Can your dog sign a marriage license or personally state that he wishes to join you in a legal union? If not then no, you cannot marry him. When you teach him to read, write, and speak a discernible language, then maybe you'll have a reasonable argument. Thanks for playing!

  2. Look no further than Mike Rowe, the former host of dirty jobs, who was also a classically trained singer.

  3. Current law states income taxes are paid to the county of residence not county of income source. The most likely scenario would be some alteration of the income tax distribution formula so money earned in Marion co. would go to Marion Co by residents of other counties would partially be distributed to Marion co. as opposed to now where the entirety is held by the resident's county.

  4. This is more same-old, same-old from a new generation of non-progressive 'progressives and fear mongers. One only needs to look at the economic havoc being experienced in California to understand the effect of drought on economies and people's lives. The same mindset in California turned a blind eye to the growth of population and water needs in California, defeating proposal after proposal to build reservoirs, improve water storage and delivery infrastructure...and the price now being paid for putting the demands of a raucous minority ahead of the needs of many. Some people never, never learn..

  5. I wonder if I can marry him too? Considering we are both males, wouldn't that be a same sex marriage as well? If they don't honor it, I'll scream discrimination just like all these people have....

ADVERTISEMENT