Lilly to acquire ICOS in $2.1 billion deal

Share this article:
Eli Lilly has agreed to purchase ICOS, co-marketer of erectile dysfunction drug Cialis (tadalfil), for approximately $2.1 billion. Lilly and ICOS have been partners in Cialis since 1998 and launched the drug together in 2003, capturing 25% of the ED market in the US. “This transaction provides financial and operation al benefits to Lilly,” said CEO Sidney Taurel in a statement. “We also look forward to further developing the commercial potential of tadalfil through the pursuit of new indications.” The deal is expected to close in late 2006 or early 2007, with positive earnings results by 2008. In July, Lilly reported Cialis sales jumped 22% in the second quarter to $233.2 million. Lilly is scheduled to report its third quarter results Thursday.
Share this article:

Email Newsletters

More in News

Astellas, DOJ settle for $7.3M

Astellas, DOJ settle for $7.3M

Astellas has settled a False Claims case with the Department of Justice over the 2010-2013 marketing of an antifungal medication. Astellas denies the allegations.

Boehringer drug lands US, EU orphan tag

Boehringer drug lands US, EU orphan tag

The experimental Breakthrough Therapy treatment is for acute myeloid leukemia.

Omnio app moves to smartphones

Omnio app moves to smartphones

Physicians Interactive is introducing the third wave of its Omnio app, making the tablet-only tool available for iPhones and Android phones.