Reports: Lilly may acquire other companies following Bydureon setback
NEW YORK Speculation has emerged that Eli Lilly may seek to acquire several other companies in light of its difficulties winning approval for a long-acting diabetes treatment, according to published reports.
Bloomberg reported industry analysts as saying that Lilly may try to acquire Amylin Pharmaceuticals, with which it developed the Type 2 diabetes treatment Bydureon (exenatide), a once-weekly formulation of the daily drug Byetta. Last week, the Food and Drug Administration declined to approve Bydureon; and while the agency’s decision isn’t the end of the drug, it does mean that Lilly and Amylin will have to wait until at least late next year before winning approval, thus giving ample time for Novo Nordisk to take some of Byetta’s market share with its own daily diabetes treatment, Victoza (liraglutide). Byetta and Victoza directly compete because they belong to the same drug class, known as GLP-1 analogues.
Like a lot of big drug companies, Lilly is at risk of huge profit losses due to many of its drugs losing patent protection and facing generic competition. But while other big companies facing similar risks responded last year with large-scale acquisitions to beef up their pipelines — notably Pfizer’s acquisition of Wyeth and Merck’s acquisition of Schering-Plough — Lilly instead pledged to increase investment in its own research and development division.
Now, Lilly may have to pursue the same tactic as Pfizer and Merck, and Bloomberg reported that the company may try to take control of Endo Pharmaceuticals or Cephalon.
‘Picture This’ forums bring diabetes management awareness to public
PRINCETON, N.J. A few days after it released a report on how awareness and education play an integral role in the prevention, detection and treatment of diabetes, Novo Nordisk is bringing it to the public.
The drug maker said Friday that, through its collaboration with the Entertainment Industries Council, it will host "Picture This" forums, which include an open discussion among diabetes stakeholders and the media to identify top diabetes communication challenges, explore strategies to address those priorities and strengthen community understanding about diabetes through news media and community affairs programs.
The forums will be held in Philadelphia on Oct. 22 and Seattle on Nov. 18.
"Novo Nordisk is proud to join EIC, the media and community leaders in Seattle and Philadelphia to explore ways to improve how diabetes is communicated about and understood by local citizens," said Tony Deluzio, senior medical director at Novo Nordisk. "As the prevalence of diabetes continues to be on the rise, bringing together those on the front line of diabetes care will open the potential to reduce the stigma associated with diabetes and empower those affected by the disease to lead full and productive lives."
Pfizer makes official tender offer for King
NEW YORK Pfizer officially has made its tender offer to buy King Pharmaceuticals for $3.6 billion, or $14.25 per share, Pfizer said Friday.
The offer constitutes a 40% premium over the closing price of King’s stock on Oct. 11, when Pfizer originally made the offer. King, based in Bristol, Tenn., specializes in pain medications designed to deter misuse and abuse, and Pfizer said the acquisition would enhance its position in the pain-relief market.
The offer expires at midnight on Nov. 19.