Eli Lilly to acquire Morphic


United States

Eli Lilly and Co is to pay $3.2 billion to acquire a US company with a pipeline of preclinical and clinical assets targeting integrin molecules for the treatment of gastrointestinal and other chronic diseases. The company, Morphic Holding Inc, is located near Boston and has a lead product, MORF-057, in Phase 2 for the potential treatment of ulcerative colitis and Crohn’s disease. Lilly is to pay $57 per share in cash for the company, which represents a premium of about 79% over the company’s closing share price on 5 July.