Eli Lilly (NYSE: [[ticker:LLY]]) announced today that an FDA advisory panel recommended that the agency not approve liprotamase, a pancreatic enzyme replacement therapy that Lilly acquired when it bought Cambridge, MA-based Alnara Pharmaceuticals last summer. The panel, whose recommendations the FDA is not required to follow, questioned the effectiveness of the drug and recommended that Lilly conduct additional studies of liprotamase for approval to be considered. Lilly paid $180 million upfront for Alnara, with another potential $200 million in payments tied to regulatory and commercial milestones, which are likely connected to liprotamase.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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