Pharma BD Deal Intelligence
Cialis JV buyout delivered exceptional ROI with $20B+ cumulative franchise revenue
Full analysis, sources & comparables →Lilly buys ICOS its Cialis partner for $2.1 billion to gain full control of the erectile dysfunction blockbuster generating $456M in first half 2006.
Press release issued by ICOS Corporation regarding Eli Lilly's offer to acquire all outstanding shares of ICOS common stock.
Lilly to acquire partner ICOS, gaining full control of Cialis, which broke through $1 billion in sales.
Source summaries from our enrichment pipeline; follow links for originals.
All 6 sources with sentiment breakdown →
Eli Lilly acquired ICOS Corporation for $34 per share (approximately $2.3 billion), gaining full ownership of Cialis (tadalafil) which had been jointly marketed through the Lilly ICOS LLC joint venture since 2003. The initial offer of $32/share was raised after institutional shareholder pushback.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Eli Lilly and Company / ICOS Corporation (this deal) | 2006 | $2.3B | 87 |
| Eli Lilly and Company / Boehringer Ingelheim GmbH | 2011 | $444M | 89 |
| Eli Lilly and Company / Loxo Oncology, Inc. | 2019 | $8.0B | 88 |
| Eli Lilly and Company / Applied Molecular Evolution Inc. | 2003 | $400M | 88 |
| Eli Lilly and Company / Novartis Animal Health | 2014 | $5.4B | 70 |
| Eli Lilly and Company / Incyte Corporation | 2009 | $755M | 69 |
| Eli Lilly and Company / Hanmi Pharmaceutical Co. Ltd. | 2026 | $1.3B | 65 |
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