Eli Lilly has announced the acquisition of Morphic Holding, a biopharmaceutical company specializing in oral integrin therapies for chronic diseases. As per the definitive agreement, Lilly will acquire all outstanding shares of Morphic for USD 57 per share. The transaction is valued at ~USD 3.2 billion and is expected to close in Q3 2024.
Post-acquisition, Lilly plans to expand its immunology portfolio and develop new therapies in gastroenterology. Morphic's main product is an oral molecule known as "MORF-057," which inhibits α4β7 integrin, a protein implicated in inflammatory bowel disease. It is being tested in two Phase II trials for ulcerative colitis and Phase I trials for Crohn's disease.
Eli Lilly and Company is a global pharmaceutical company committed to creating high-quality medicines that address unmet medical needs. The company is focused on neuroscience, cardiometabolic, cancer, and immunology disease areas. Key products include Verzenio for cancer; Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, Humulin for diabetes, and Taltz and Olumiant for immunology.
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