Eli Lilly to Acquire Morphic Holdings for an Aggregate of ~$3.2B
Shots:
- Eli Lilly has entered into a definitive agreement to acquire Morphic Holding to strengthen its immunology portfolio by adding oral integrin therapies
- The company will buy Morphic’s outstanding shares for $57 per share in cash making it a total deal value of ~$3.2B. The transaction is anticipated to conclude in Q3’24, pending customary closing conditions
- The acquisition will add Morphic’s MORF-057 (α4β7 integrin inhibitor) being assessed under three P-II trials (2 for ulcerative colitis & 1 for Crohn's disease) and various preclinical candidates for treating autoimmune diseases, pulmonary hypertensive diseases, fibrotic diseases & cancer to Lilly’s portfolio
Ref: Morphic | Image: Morphic
Related News:- Morphic Reports P-IIa Trial (EMERALD-1) Results of c for the Treatment of Ulcerative Colitis
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Disha is a content writer at PharmaShots. She is passionate and curious about recent updates and developments in MedTech and Pharma industry. She covers news related to clinical trial results and updates. She can be contacted at connect@pharmashots.com.
