In a strategic move aimed at bolstering its portfolio in inflammatory bowel disease (IBD) treatments, Eli Lilly and Company has announced a definitive agreement to acquire Morphic Holding for approximately USD 3.2 billion. The purchase price represents a 79% premium to Morphic’s closing stock price. Post the tender offer, any remaining shares will be acquired through a second-step merger at the same price. This acquisition, slated to close in the third quarter of 2024 pending regulatory approvals, underscores Lilly’s enduring commitment to pioneering therapies in the field of gastroenterology.
Through the deal, Lilly will procure an experimental oral IBD treatment,...