Lilly pharmaceutical acquires the right to develop migraine treatment drugs

Source: Tencent Finance on January 13, 2014 Beijing time evening news, Lilly pharmaceutical said on Monday that it had acquired the right to develop a migraine treatment drug based on the second stage research data Lilly pharmaceutical said that the research work of the antibody to calcitonin gene-related peptide (CGRP) is in progress, which is expected to prevent recurrent migraine Lilly pharmaceutical found a particle named ly2951742 and authorized it to arteaus therapeutics for relevant development work Lilly did not disclose the financial terms of the deal on Monday, but said it would include a related pre tax expense of about $57.1 million, or about 3 cents per share, in the fourth quarter of 2013 Arteaus was founded in 2011, when it received $18 million from venture capital companies atlas venture and OrbiMed, as well as the right to develop antibodies to calcitonin gene-related peptide from Lilly pharmaceutical "Ly2951742 represents a potentially breakthrough treatment for nearly 9 million migraine patients," said David grayzel, chief executive of arteaus We believe that the acquisition of calcitonin gene-related peptide antibody project by Lilly pharmaceutical will further consolidate this innovative biotechnology model and be conducive to the joint development of drugs " According to Lilly, migraine affects about 12% of the U.S population and is regarded as one of the 20 most disabling diseases Currently, there is no effective treatment Prior to the announcement of the acquisition, Lilly last week forecast double-digit declines in revenue and earnings this year as its main drugs lose patent protection But Lilly also said it expects growth to resume next year