On Jan. 29, 2007, Eli Lilly announced it had completed its acqusition of ICOS Corp. for $2.3 billion or $34 per share. ICOS was founded in 1991 by David and Isaac Blech, Robert Nowinski, Christopher Henney, and George Rathmann.

The company was focused on discovering, developing and commercializing treatments for inflammation and other serious diseases. On Nov. 21, 2003, Cialis (tadalafil), a PDE5 inhibitor discovered through a Glaxo Wellcome (GlaxoSmithKline) ICOS partnership, was approved by the U.S. Food and Drug Administration for treating erectile dysfunction (ED) under the name trade name Cialis.