ARTICLE | Strategy

Lilly avid for diagnostics

Lilly acquires Avid to build near-term diagnostics revenue

November 15, 2010 8:00 AM UTC

Eli Lilly and Co.'s acquisition of Avid Radiopharmaceuticals Inc. represents the first significant step in the pharma's efforts to build a diagnostics revenue stream. While Lilly is interested in companion diagnostics, it says this deal is primarily to get Avid's florbetapir, which could generate near-term revenues as a stand-alone beta amyloid imaging agent.

Avid President and CEO Daniel Skovronsky told BioCentury an immediate value of florbetapir is to rule out Alzheimer's disease. Even though there is not yet enough scientific evidence to say imaging beta amyloid can positively diagnose AD, florbetapir could speed time to intervention and improve therapeutic choices and outcomes for patients showing signs of cognitive impairment that are not due to AD...