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Key Takeaways Eli Lilly said it would buy Morphic for roughly $3.2 billion or $57 per share, a nearly 80% premium to Friday's closing price.Morphic is developing a treatment for inflammatory bowel disease.
Eli Lilly will acquire biopharmaceutical firm Morphic Holding in a deal valued at $3.2 billion, both companies announced Monday, a transaction that includes an experimental medication for inflammatory bowel disease and treatments for other chronic diseases.
Eli Lilly stock has soared on optimism about its top-selling weight-loss drugs. The company is expanding infrastructure to meet demand -- and is studying new potential weight-loss drugs in late-stage trials.
Morphic Holding shares surged 75% in early trading Monday after the biopharmaceutical company agreed to be acquired by drugmaker Eli Lilly for $3.2 billion in cash. Dow Jones Newswires is a market-moving financial and business news source,
Shares of biopharmaceutical company Morphic Holding, Inc. (MORF) were surging more than 75 percent in pre-market on Monday on the
San Diego biotech news: Eli Lilly inks deal that could lead to $1B acquisition of this local company
Radionetics, a San Diego company working on a novel cancer treatment, just signed a big partnership with pharmaceutical giant Eli Lilly and Co. A key part of this strategic partnership: Eli Lilly gained the exclusive right to acquire Radionetics for $1 billion after a certain period.
Eli Lilly acquires Morphic Holding for $3.2 billion, gaining a potential IBD treatment asset, MORF-057. Explore more details here.
Eli Lilly (LLY) and Morphic (MORF) are both higher today, following news that the former will acquire the latter
Eli Lilly said Monday it will acquire Morphic Holding, a biotech developing a treatment for inflammatory bowel disease.
Eli Lilly is set to acquire Morphic for $3.2bn. Click here to read why I think this is an important deal for LLY for the diversification of its revenue sources.
Indianapolis-based Eli Lilly is set to acquire the biotech company Morphic. According to a press release, Lilly is slated to buy up all outstanding shares of Morphic for $57 apiece. In aggregate, it will cost Lilly approximately $3.