Eli Lilly sells some ingredient rights to perhaps one day be released in a a product to treat high blood pressure.
Side effects are_____________________. BD
But shares of the biotechnology concern slumped 31% premarket to $62.50, as United Therapeutics is buying the rights for $150 million. It has also agreed to sell $150 million in stock to Lilly. United Therapeutics' market value as of Friday was about $2.3 billion.
Tadalafil is better known as the generic name for Cialis, but the drug's active ingredient has also been studied for other potential uses, including the treatment of high blood pressure. Lilly executive Gwen G. Krivi lauded United Therapeutics' experience in that field and said Lilly was "pleased to make a financial investment in a promising and profitable biotechnology company."
United Therapeutics buying some Cialis-ingredient rights - MarketWatch
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