Pharma BD Deal Intelligence

Eli Lilly and Company / ICOS Corporation

2006 · Acquisition/Merger · $2.3B · Complete

Announcement Sentiment
80
Strongly positive
Outcome Score
87
Worked — the deal delivered on its rationale.

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.

Key facts

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