Eli Lilly said Monday it would pay $3.2 billion to acquire an innovator in oral treatments for chronic bowel diseases.
Eli Lilly agrees to pay $57 a share for Morphic, a 79% premium to the stock’s closing price of $31.84 on Friday.
(Bloomberg) -- Eli Lilly & Co. agreed to buy U.S. gut-drug maker Morphic Holding Inc. for about $3.2 billion, plowing some of the proceeds from obesity blockbuster Zepbound into its experimental pipeline. Most Read from BloombergBiden Narrows Gap With Trump in Swing States Despite Debate LossBoeing to Plead Guilty to Fraud for Violating Deal Over 737 Max CrashesHedge Funds That Piled Into Big Tesla Short Stung by RallyMicrosoft Orders China Staff to Use iPhones for Work and Drop AndroidFrench Le