Eli Lilly: acquires Morphic
(CercleFinance.com) - Eli Lilly announced on Friday that it had completed the acquisition of Morphic, a US biopharmaceutical company specializing in the treatment of chronic inflammatory bowel disease.
The healthcare giant had initially announced the deal last month, for an estimated consideration of about $3.2bn.
At the close of its tender offer yesterday, Lilly, which was offering $57 for each Nasdaq-listed Morphic share, held around 92.8% of the capital.
The shares will now be delisted.
Morphic's lead program, MORF-057, designed to treat inflammatory bowel disease, is currently in Phase 2 trials in ulcerative colitis (UC) and Crohn's disease.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The healthcare giant had initially announced the deal last month, for an estimated consideration of about $3.2bn.
At the close of its tender offer yesterday, Lilly, which was offering $57 for each Nasdaq-listed Morphic share, held around 92.8% of the capital.
The shares will now be delisted.
Morphic's lead program, MORF-057, designed to treat inflammatory bowel disease, is currently in Phase 2 trials in ulcerative colitis (UC) and Crohn's disease.
Copyright (c) 2024 CercleFinance.com. All rights reserved.