Abstract
ELI LILLY & CO. will acquire ICOS, the Bothell, Wash.-based biotech firm with which Lilly has a joint venture to manufacture and sell the erectile dysfunction drug Cialis. The deal, for about $2.1 billion in cash, will give Lilly full ownership of the number two drug in the category, behind Pfizer's Viagra. Cialis, an oral inhibitor of phosphodiesterase type 5, had sales of $456 million in the first six months of 2006, up 34% over the first half of 2005. With full ownership of Cialis, we will be able to realize operational efficiencies in the further development, marketing, and selling of this important product, says Lilly CEO Sidney Taurel. Lilly plans to pursue new indications for tadalafil, Cialis' active ingredient. In addition to Cialis, ICOS has drugs for cancer and psoriasis in early-stage development. The firm also operates a biologies facility and a contract manufacturing business. Lilly has not determined whether it will continue these ...
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