Eli Lilly acquires Alnara
INDIANAPOLIS Drug maker Eli Lilly has finished its acquisition of a company developing a pancreatic disorder treatment.
Lilly announced Tuesday that it had finished acquiring Alnara Pharmaceuticals, a privately held company, in a deal announced July 2. Lilly acquired Alnara for an upfront payment of $180 million, and Alnara stockholders could receive up to $200 million in additional milestone payments based on product performance.
Alnara is developing liprotamase, a pancreatic enzyme replacement therapy under review by the Food and Drug Administration as a treatment for exocrine pancreatic insufficiency, a disease resulting from cystic fibrosis, removal of the pancreas, chronic pancreatitis and other conditions.