Eli Lilly Acquires SiteOne Therapeutics in $1 Billion Deal

Published 1 days agoLLY

Eli Lilly Acquires SiteOne Therapeutics in $1 Billion Deal

Eli Lilly has announced its acquisition of privately held SiteOne Therapeutics, a deal valued at up to $1 billion. This move will give Eli Lilly access to SiteOne's promising experimental non-opioid pain treatment known as STC-004. Reuters reported that this acquisition involves both an upfront cash payment and potential milestone-based payments, which are contingent on hitting regulatory and commercial milestones.

The focus of STC-004 is on being a Nav1.8 inhibitor, which targets the channels involved in the transmission of pain signals. This method is akin to the approach used by Vertex Pharmaceuticals with its drug Journavx, which recently gained approval. The inclusion of STC-004 in Eli Lilly's arsenal could enhance its offerings in the non-opioid pain treatment space, a noteworthy sector given the ongoing challenge of opioid-related adversities.

By acquiring SiteOne Therapeutics, Eli Lilly is not only expanding its portfolio but also reinforcing its strategic commitment to offering effective alternatives in pain management. This acquisition aligns with the company's broader strategy to pioneer non-opioid solutions, providing safer methods for pain relief amidst increasing demand for innovative medical interventions.

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