The recently reorganized Eli Lilly and Company has acquired CoLucid Pharmaceuticals, Inc. in an approximately $960 million, all-cash transaction. CoLucid has been developing lasmiditan, a migraine medicine that Lilly had patented and it to CoLucid in 2005.
According to release from Lilly, lasmiditan could represent the first significant innovation for the acute treatment of migraine in more than 20 years and the drug could not only help with migraines but also benefit patients with cardiovascular disease.
CoLucid also brings along other pain management drugs including headache medication galcanezumab and pain-killer tanezumab.
Read the full release