Eli Lilly and Co. is set to acquire CoLucid Pharmaceuticals for $960 million. CoLucid is currently developing lasmiditan, a migraine medicine that could help patients with cardiovascular disease. Clinical testing on the agent—which is under investigation in both oral and intravenous forms—is ongoing and expected to be completed by year’s end, according to the company. Lilly scientists patented lasmiditan and licensed it to CoLucid in 2005.
The acquistion is expected to close by March. If it is approved, Lilly will also acquire the headache medication galcanezumab and the pain-killer tanezumab, which is being studied in a partnership with Pfizer.Next Story