Eli Lilly to acquire Morphic for $3.2 billion to gain access to experimental drug

From Investing.com: 2024-07-08 07:01:02

Eli Lilly is set to acquire Morphic Holding for $3.2 billion, gaining access to an experimental drug for inflammatory bowel disease. Morphic’s stock surged by 76% to $56.15 premarket in response to Lilly’s $57 per share offer, a 79% premium. Morphic’s lead drug is currently in phase 2 studies for ulcerative colitis and Crohn’s disease.



Read more at Investing.com: Eli Lilly to buy bowel disease drug developer Morphic for $3.2 billion By Reuters