Lilly quietly completes purchase of Padcev competitor, estimated at nearly half a billion dollars

Eli Lil­ly com­plet­ed its ac­qui­si­tion of an­ti­body-drug con­ju­gate biotech Emer­gence Ther­a­peu­tics, the In­di­anapo­lis phar­ma com­pa­ny con­firmed to End­points News Wednes­day.

The buy­out closed on Aug. 24, a Lil­ly spokesper­son told End­points in an email. Lil­ly paid an es­ti­mat­ed $470 mil­lion, with $335 mil­lion in po­ten­tial mile­stones, as cal­cu­lat­ed by End­points and mul­ti­ple an­a­lysts.

Eli Lil­ly and Emer­gence’s CEO Jack Elands de­clined to con­firm the size of the deal.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.