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Home Industry News Lilly announces acquisition of CoLucid Pharmaceuticals

Lilly announces acquisition of CoLucid Pharmaceuticals

19th January 2017

Lilly has announced the acquisition of fellow healthcare company CoLucid Pharmaceuticals in a deal worth $960 million (778.88 million pounds).

The biopharmaceutical company is currently developing an oral 5-HT1F agonist called lasmiditan for the acute treatment of migraine, and has completed the first of two pivotal phase III trials of the drug, with data from the second expected in the second half of 2017.

As such, this acquisition will enhance Lilly's capabilities in the field of migraine pain management, adding a potential near-term launch to its late-stage pipeline. Submission of lasmiditan for US regulatory approval could occur as early as 2018.

The transaction is expected to close by the end of the first quarter of 2017 and will return ownership of lasmiditan to Lilly, the company originally responsible for discovering the drug.

David Ricks, Lilly's president and chief executive officer, said: "Lasmiditan is a novel, first-in-class molecule that could represent the first significant innovation for the acute treatment of migraine in more than 20 years."

Other developmental pain management therapies that Lilly is working on include galcanezumab, a potential medicine in phase III clinical development for the prevention of migraine and cluster headache.

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