Lilly to acquire Avid

Eli Lilly and Co. (NYSE:LLY) will acquire Avid Radiopharmaceuticals Inc. (Philadelphia, Pa.) for $300 million up front and up to $500 million in milestones. Lilly will gain Avid's florbetapir ( 18F-AV-45), an imaging agent labeled with fluorine 18 (F-18) that binds to amyloid plaques, for which Avid has submitted a marketing application to FDA to detect the presence of amyloid plaques in the brain. The companies said amyloid plaques are a defining pathology of Alzheimer's disease (AD). ...