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7 months ago
BRIEF-Lilly and CoLucid Pharmaceuticals announce agreement for Lilly to acquire CoLucid
January 18, 2017 / 11:57 AM / 7 months ago

BRIEF-Lilly and CoLucid Pharmaceuticals announce agreement for Lilly to acquire CoLucid

Jan 18 (Reuters) - CoLucid Pharmaceuticals Inc

* Lilly and CoLucid Pharmaceuticals announce agreement for Lilly to acquire CoLucid

* CoLucid Pharmaceuticals Inc says deal for $46.50 per share

* CoLucid Pharmaceuticals Inc says deal for $960 million

* CoLucid Pharmaceuticals Inc says Lilly is expecting to recognize a financial charge of approximately $850 million (no tax benefit), or approximately $0.80 per share from deal

* Deal is an all-cash transaction

* Lilly's reported earnings per share guidance in 2017 is expected to be reduced by amount of charge

* Says data read-out for second phase 3 trial, Spartan, is expected in second half of 2017

* There will be no change to Lilly's non-GAAP earnings per share guidance as a result of this transaction

* Says if Spartan phase 3 trial is positive, submission of Lasmiditan for U.S. Regulatory approval could occur in 2018 Source text for Eikon: Further company coverage:

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