Just Say NO to Mega-mergers!
John Lechleiter, Lilly's CEO, has remained adamant that his company will not be in the market competing for mega-mergers with some of his rivals. "We are not interested in a large-deal combination", Lechleiter was quoted in Fierce Biotech.
I can only conclude he read my post here discussing the dismal track record of mega-mergers in the industry. Lechleiter went on to explain that Lilly would be looking for targetted deals to augment its internal pipeline capability.
Lilly will try to build on existing franchises but will alos look to diversify in selected areas. It may put more empasis on diagnostics (See earlier week's post on Roche/personalized medicine) and perhaps drug delivery. Lilly will look to make this complimentary to its new pipeline of biological drugs - estimated at 40% of current pipeline as it tries to convert to the growing area of biologics.
Posted by Bruce Lehr June 5th 2010.