Lilly Strengthens IBD Treatment Portfolio with Morphic Acquisition
Eli Lilly and Company and Morphic Holding, Inc. announced a definitive agreement for Lilly to acquire Morphic, a biopharmaceutical company developing oral integrin therapies for serious chronic diseases. Lilly will initiate a tender offer to acquire all outstanding shares of Morphic at a purchase price of $57 per share in cash, totaling approximately $3.2 billion, payable at closing. The boards of directors of both companies have approved the transaction.
Morphic’s lead program, MORF-057, is a selective oral small molecule inhibitor of α4β7 integrin for the treatment of inflammatory bowel disease...