IBJNews

Lilly completes $180 million acquisition of Alnara

Back to TopCommentsE-mailPrintBookmark and Share

Eli Lilly and Co. announced Wednesday it has completed the acquisition of Alnara Pharmaceuticals Inc., a privately held company developing an enzyme-replacement therapy for disorders of the pancreas.

Lilly acquired all outstanding shares of Massachusetts-based Alnara for an upfront payment of $180 million. Alnara stockholders also will be eligible for up to $200 million in additional payments contingent upon potential future regulatory and commercial milestones.

The transaction, which was first announced on July 2, received the approval of Alnara stockholders.

Alnara’s lead product in development is an oral drug called liprotamase, which has been submitted to the U.S. Food and Drug Administration for market approval.

Liprotamase has shown in clinical trials that it can reverse a nutritional deficiency patients experience with specific pancreatic disorders that can be caused by cystic fibrosis, chronic pancreatitis and pancreatectomy.

Lilly must come up with new drugs in order to make up for coming losses to its product pipeline. 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.
 

ADVERTISEMENT

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
ADVERTISEMENT