A bruised Eli Lilly buys rights to Centrexion's early-stage pain drug for $47.5M upfront
Eli Lilly is working on putting its woes in the rearview mirror. In recent months, a late-stage failure triggered the withdrawal of its cancer drug Lartruvo, the US drugmaker relegated two mid-stage drugs to the scrap heap, and Japan flagged safety concerns associated with its breast cancer treatment, Verzenio.
On Tuesday, the US drugmaker said it was acquiring the rights to an experimental early-stage non-opioid pain drug from Centrexion for $47.5 million upfront. The Boston-based company acquired the chronic pain drug CNTX-0290 — a small molecule somatostatin receptor type 4 (SSTR4) agonist — from Boehringer Ingelheim in 2016.
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