Eli Lilly bids on US auto-immune company

The bid from Eli Lilly values the company at a total price of just around USD 3.2bn.
Photo: Mike Blake/Reuters/Ritzau Scanpix
Photo: Mike Blake/Reuters/Ritzau Scanpix
af marketwire

Eli Lilly has gone shopping again, and this time, has set its sights on American Morphic Holding, Bloomberg News reports.

This sent Morphic shares up 77.2% to USD 56.41 per share in the pre-market, which is close to Eli Lilly’s offer. The major US pharmaceutical company is offering to buy Morphic for USD 57 per share in cash, valuing the company at a total price of just around USD 3.2bn.

The deal expands Eli Lilly’s portfolio in autoimmune and chronic diseases - specifically in the gut.

The deal is not subject to specific approvals and is expected to close in the third quarter.

Eli Lilly shares reacted moderately with an increase of 0.2% in the pre-market. 

English edit: Catherine Brett

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Foto: Mike Blake/Reuters/Ritzau Scanpix

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