Washington Editor
Seeking to build on its neuroscience product development program, Eli Lilly and Co. has put $300 million on the table to buy privately held Avid Radiopharmaceuticals Inc., a Philadelphia-based firm that develops molecular imaging compounds, including florbetapir F 18 (18F-AV-45), an investigational agent used to detect the presence of amyloid plaque in the brain u a hallmark sign of Alzheimer's disease.
Avid stockholders also are eligible to receive up to $500 million if florbetapir, which currently is under review at the FDA, meets its regulatory and commercial goals.
The deal also provides Indianapolis-based Lilly, which has 22 drugs on the market for cancer, neuroscience conditions, diabetes, osteoporosis and other diseases, …
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