M&A
Nexus Pharmaceuticals’ manufacturing facility acquired by Eli Lilly
Eli Lilly and Nexus Pharmaceuticals have announced that they have entered into a definitive agreement for Eli Lilly to acquire a manufacturing facility from Nexus.
The facility is located in Pleasant Prairie, Wisconsin, US, and is already FDA approved. The acquisition is intended to help Eli Lilly’s expansion of its global parenteral (injectable) product manufacturing network as well as supporting the increased demand for the company’s products.
Usman Ahmed, president and chief executive officer of Nexus Pharmaceuticals, stated: “We are excited Lilly is continuing our family’s mission of providing life-saving medications to those who need them most. This milestone is a testament to the dedication of our Nexus employees in building a best-in-class injectable manufacturing facility. The combination of our teams and infrastructure with Lilly’s global platform will benefit patients all over the world.”
Edgardo Hernandez, executive vice president and president of Lilly manufacturing, commented: “The acquisition of this state-of-the-art facility underscores our unwavering commitment to growth and innovation, and we look forward to welcoming talented new Nexus colleagues to Lilly from the Pleasant Prairie facility. We are investing boldly to serve our patients, to meet product demand and to build capabilities for our robust pipeline of the future.”
Weil, Gotshal & Manges LLP is acting as Eli Lilly’s legal advisor while Center view Partners LLC is acting as exclusive financial advisor, and Sullivan & Cromwell LLP as legal counsel to Nexus Pharmaceuticals.