Lilly’s 2021 Double-Digit Growth Comes From COVID-19 Drugs, New Products
Prevail Purchase For $880m Adds Gene Therapy Capabilities
Most of Lilly’s 2021 gains will come from its newer products, but sales of COVID-19 treatments added $500m to the company’s 2020 revenue guidance and may total $1bn-$2bn next year.
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With the planned $487m acquisition of sensorineural-focused Akouos, Lilly makes its second gene therapy M&A play in two years, on top of partnering/financing activity in the space.
The big pharma has a gene therapy R&D site in New York from its Prevail Therapeutics buy; the RNA-focused Boston site also will conduct drug delivery research benefitting programs at both locations.
The potential for RNA medicines to achieve holy grail goals – reaching undruggable targets and bringing drugs to market faster – has Pfizer, Lilly, Novartis and others in a deal-making frame of mind.