Global Briefs: Novartis, Lilly, Otsuka, SK Biopharmaceuticals & More
A roundup of news from the large and mid-sized bio/pharmaceutical companies featuring Eli Lilly and Company, Novartis, Otsuka, SK Biopharmaceuticals, and Stada. Highlights below.
For the latest news roundup on small and Emerging Pharma companies, see Biotech Briefs.
Mergers and Acquistions
Otsuka Completes Acquisition of Transcend Therapeutics in $1.2-Bn Deal
Otsuka America, the US subsidiary of Otsuka Pharmaceutical, has completed its acquisition of Transcend Therapeutics, a New York-based clinical-stage bio/pharmaceutical company, in a deal worth up to $1.2 billion ($700 million at closing and up to $525 million in additional contingent consideration based on future sales related to assets in development). The acquisition was announced in March 2026.
Transcend Therapeutics is developing a rapid-acting treatment for post-traumatic stress disorder, TSND-201 (methylone). The drug, in Phase III development, was awarded a national priority voucher by the US Food and Drug Administration (FDA) in April (April 2026) and previously received Breakthrough Therapy Designation from FDA in July 2025. The FDA Commissioner’s National Priority Voucher program is a recent pilot designed to accelerate drug and biologic application reviews by FDA from the standard 10–12 months down to 1–2 months.
With the completion of the transaction, Transcend is a wholly owned subsidiary of Otsuka America.
Source: Otsuka
Stada To Acquire 16 European Consumer Healthcare Brands
Stada, a generics, specialty pharma, and consumer healthcare company, has agreed to acquire 16 vitamins, minerals and supplements (VMS) brands from Orifarm, a Danish pharmaceutical company. The deal marks the first transaction conducted under Stada’s new majority ownership by private-equity investor CapVest.
Among the brands acquired are the Nycoplus pharmacy VMS line in Norway, the Apovit VMS line in Danish pharmacies, Magnecaps magnesium-based supplements in Belgium, and the Vitrum VMS brand in Poland.
The transaction is subject to regulatory clearances and customary closing conditions.
Source: Stada
Partnering
SK Biopharmaceuticals, Insilico Medicine in $2.5-Bn Neuroimmune Drug Pact
SK Biopharmaceuticals and Insilico Medicine, an AI-driven drug-discovery company, have formed a research and development collaboration to discover AI-enabled innovative drug candidates in the neuroimmune area of the central nervous system, in a deal worth up to $2.5 billion (includes up to $18 million in upfront and near-term milestone payments).
Under the agreement, Insilico will apply its proprietary Pharma.AI platform, which spans target validation, generative chemistry, and molecule optimization with its preclinical drug-discovery expertise to discover, design, and optimize novel candidates for neuroimmune indications. SK Biopharmaceuticals will contribute its development and clinical capabilities in neuroimmune disorders and steer late-stage development and commercialization of all resulting programs
Insilico is eligible to receive up to $18 million in upfront and near-term milestone payments. The total potential deal value exceeds $2.5 billion, including development, regulatory, and commercial milestone payments, as well as single-digit royalties on net sales upon commercialization.
Source: Insilico Medicines
Lilly, Abbisko in $1.9-Bn Research & License Pact
Eli Lilly and Company has formed a strategic research collaboration and license agreement with Abbisko Therapeutics, a Shanghai, China-based bio/pharmaceutical company focused on oncology.
Under the agreement, Abbisko will conduct discovery and early-development activities for novel drug programs directed against disease targets selected by Lilly. Abbisko will receive an upfront payment and is eligible to receive development, regulatory, and commercial milestone payments totaling up to approximately $1.9 billion. In addition, Abbisko will be eligible to receive tiered royalties based on annual net sales of products arising from this collaboration.
In 2022, Abbisko and Lilly entered into a global collaboration and exclusive license agreement to collaborate on the discovery, development, and potential commercialization of novel small-molecule therapeutics.
Source: Abbisko Therapeutics
Novartis, Antares Therapeutics in $1.9-Bn Small-Molecule Oncology Drug Pact
Novartis has formed a strategic collaboration with Antares Therapeutics, a Boston-based climical-stage bio/pharmaceutical company, to discover, develop, and commercialize small-molecule therapies against historically undruggable oncology targets, in a deal worth up to $1.9-billion ($105 million upfront and $1.8 billion in option and milestone payments).
Under the agreement, Antares will receive a $105-million upfront payment and is eligible to receive up to $1.8 billion in additional payments across programs, inclusive of option exercise, development, regulatory, and commercial milestones, as well as tiered royalties on global net sales up to the low double-digit range. Antares will lead all research and apply its proprietary discovery engine to a limited number of historically undruggable targets until option exercise. In parallel, Antares will continue to advance its wholly owned and partnered portfolio of precision medicines for cancer and other serious diseases. Antares’ lead precision oncology program is expected to enter the clinic in 2026, with multiple additional programs in preclinical development.
Source: Antares Therapeutics
