Eli Lilly (LLY) concluded the recent trading session at $531.46, signifying a +1.19% move from its prior day's close.
Eli Lilly's (LLY) acquisition of POINT Biopharma, if successfully closed, is likely to bolster its portfolio of cancer drugs.
After announcing that it signed a deal to acquire Point Biopharma Global (NASDAQ: PNT), its share price headed south to end the day 2.4% lower. Before market open, Eli Lilly divulged that it has agreed to acquire Point for a total of roughly $1.4 billion in cash, or $12.50 per share. The latter is nearly double Point's closing share price on Monday.