All articles tagged with #diabetes treatments
Eli Lilly's obesity and diabetes drugs Mounjaro and Zepbound generated over $10 billion in Q3, fueling a booming market and a bidding war, with Novo Nordisk planning to acquire Metsera in a deal potentially worth up to $9 billion, highlighting intense competition in the GLP-1 receptor agonist space.
Drugmakers spent over $1 billion on advertisements for weight loss and diabetes drugs in 2023, reflecting the competitive market for these treatments. Novo Nordisk's drugs, Ozempic and Wegovy, have been heavily promoted, contributing to the surge in ad spending. Initial data for 2024 suggests that ad spending for these drugs remains strong. Additionally, the FDA has approved an AI-powered diagnostic tool for sepsis, developed by health tech startup Prenosis, which aims to help clinicians assess a patient's risk of sepsis more effectively.
Eli Lilly shares reached a record high after completing two acquisitions, expanding its reach into potential diabetes and obesity treatments. The deals include the purchase of Versanis Bio, which could be valued up to $1.925 billion, and Sigilon Therapeutics, with a potential transaction worth about $309.6 million. Eli Lilly's shares have risen nearly 50% this year.
Pharmaceutical company Eli Lilly has announced its plans to acquire the remaining shares of Sigilon Therapeutics, a company specializing in experimental cell therapies for diabetes patients. The deal, valued at $34.6 million in upfront cash, will provide Lilly with access to Sigilon's proprietary cell therapy candidate for treating type 1 diabetes. The acquisition is expected to close in the third quarter of 2023.
Eli Lilly and Co announced its plans to acquire the remaining shares of Sigilon Therapeutics to expand its diabetes treatments. The deal, valued at $34.6 million in upfront cash, will give Lilly access to Sigilon's proprietary cell therapy candidate for type 1 diabetes. Sigilon shareholders may receive an additional $111.64 per share based on certain milestones. The acquisition is expected to close in Q3 2023.