Weil Gotshal Advises Lilly In $800M Avid Deal

Law360, New York (November 8, 2010, 11:52 AM EST) -- Eli Lilly & Co. said Monday it had agreed to buy privately held molecular imaging developer Avid Radiopharmaceuticals Inc. for $300 million up front and a possible $500 million milestone payment related to the study of Alzheimer's disease.

The $300 million may be adjusted based on cash on hand at closing, and the $500 million payment is contingent on the company achieving future regulatory and commercial milestones for the molecular imaging agent florbetapir, Lilly said.

Florbetapir, Avid's leading program in development, is being assessed for its...
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