Eli Lilly nabs CoLucid and a PhIII migraine drug in $960M buyout
Eli Lilly’s new CEO has pulled off his first M&A deal.
The pharma giant $LLY is buying CoLucid $CLCD for $960 million, adding some pain meds to the pipeline, including a migraine program now in late-stage development.
The object of Lilly’s affection is lasmiditan, an oral 5-HT agonist that was originally developed by Lilly and then out-licensed to CoLucid in 2005. That program joins Lilly’s Phase III migraine drug galcanezumab — a CGRP therapy in a crowded field of players — and a collaboration the pharma giant has with Pfizer on tanezumab, an NGF drug.
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