Lilly to acquire ICOS Corporation

Published: 18-Oct-2006

Eli Lilly and Company has signed a definitive merger agreement to acquire ICOS Corporation, based in Bothell, Washington, in a cash transaction.


Eli Lilly and Company has signed a definitive merger agreement to acquire ICOS Corporation, based in Bothell, Washington, in a cash transaction.

Since 1998, Lilly and ICOS have been partners in Lilly ICOS LLC, the joint venture that manufactures, markets and sells Cialis (tadalafil). Launched in 2003, Cialis is an oral PDE-5 inhibitor for the treatment of erectile dysfunction that is available in more than 100 countries and has captured more than 25 percent of the erectile dysfunction market in the US.

'We have had a very successful and productive relationship with our partners at ICOS and are looking forward to taking this next step. With full ownership of Cialis, we will be able to realise operational efficiencies in the further development, marketing and selling of this important product,' said Sidney Taurel, Lilly chairman and ceo. 'We also look forward to further developing the commercial potential of tadalafil through the pursuit of new indications.'

The transaction is expected to close in late 2006 or early 2007, subject to approval by ICOS shareholders and other closing conditions.

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