Eli Lilly acquisition of Alnara Pharmaceuticals

iStock_000006963239Medium[1]The global pharmaceutical company, Eli Lilly has announced the completion of its acquisition of the biotechnology company Alnara Pharmaceuticals.

Eli Lilly paid $180 million for Alnara. Alnara is a privately held drug developer with currently no drugs on the market. However, liprotamase, their lead candidate, has gone through clinical testing and is under regulatory review for possible approval.

Liprotamase treats exocrine pancreatic insufficiency, which leaves patients unable to digest and absorb fat, protein and carbohydrates. The condition can be caused by cystic fibrosis or chronic pancreatitis, among other reasons.

Lilly is hopeful that the acquisition will enable the company to develop its presence in enzyme replacement therapy, an area which Lilly does not currently cover.  At present, Lilly’s largest therapy areas include neuroscience, oncology and diabetes.

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