BioPharma Dive July 8, 2024
The deal would hand Lilly an experimental pill that could one day rival Takeda’s blockbuster medicine Entyvio as a treatment for inflammatory bowel disease.
Eli Lilly plans to spend $3.2 billion acquiring a Massachusetts-based biotechnology company and its experimental pill for inflammatory bowel disease.
Announced Monday, the all-cash deal has Lilly buying all the outstanding shares of Morphic Therapeutics for $57 apiece — a nearly 80% premium to the stock’s closing price on Friday. The companies expect their deal to close by the end of September.
Morphic formed in 2015, built around discoveries from the lab of Timothy Springer, an immunologist and Harvard University professor who was also a founding investor in Moderna. Morphic’s aim has been to develop oral...
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