tiprankstipranks
Trending News
More News >

Eli Lilly Strikes $870 Million Deal to Develop Long-Acting Obesity Treatments

Eli Lilly Strikes $870 Million Deal to Develop Long-Acting Obesity Treatments

U.S. pharmaceutical giant Eli Lilly & Co. (LLY) has a struck a deal with Swedish pharmaceutical company Camurus (SE:CAMX) that will see the two firms collaborate on the development of long-acting obesity treatments.

Confident Investing Starts Here:

The collaboration agreement is valued at $870 million, and the partnership will grant Eli Lilly access to Camurus’ drug delivery technologies, which could enhance the durability of Eli Lilly’s various weight-loss medications, including its leading Zepbound prescription drug.

The deal includes an upfront payment from Eli Lilly to Camurus, with additional milestone payments tied to the development and commercialization of long-acting obesity treatments. The focus of the collaboration is on utilizing Camurus’ FluidCrystal® technology, which enables extended drug release.

New Therapies

The development of long-acting obesity treatments comes as Eli Lilly looks to modify and improve its weight-loss medications. The company is currently in the process of developing a weight-loss pill that would be taken instead of am injection, which is the current way people are administered Zepbound.

The drug release technology offered by Camurus could allow for less frequent dosing schedules for patients using weight-loss drugs and treatments, said the two companies. Eli Lilly and Camurus aim to address growing demand in the obesity medication market by exploring innovative solutions together.

Is LLY Stock a Buy?

The stock of Eli Lilly has a consensus Strong Buy recommendation among 20 Wall Street analysts. That rating is based on 17 Buy, two Hold, and one Sell recommendations issued in the last 12 months. The average LLY price target of $983.86 implies 26.60% upside from current levels.

Read more analyst ratings on LLY stock

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.

Report an Issue