Liprotamase Drug Slowed by FDA Panel

1/14/11

Eli Lilly (NYSE: LLY) announced today that an FDA advisory panel recommended that the agency not approve liprotamase, a pancreatic enzyme replacement therapy that Lilly acquired when it bought Cambridge, MA-based Alnara Pharmaceuticals last summer. The panel, whose recommendations the FDA is not required to follow, questioned the effectiveness of the drug and recommended that Lilly conduct additional studies of liprotamase for approval to be considered. Lilly paid $180 million upfront for Alnara, with another potential $200 million in payments tied to regulatory and commercial milestones, which are likely connected to liprotamase.

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