Eli Lilly and Company (LLY) and Morphic Holding (MORF) have officially announced a definitive acquisition agreement. Under this agreement, Lilly will acquire Morphic, a biopharmaceutical firm specializing in the development of oral integrin therapies aimed at treating serious chronic conditions. Lilly is set to initiate a tender offer to purchase all outstanding shares of Morphic at a price of $57 per share in cash, amounting to a total of approximately $3.2 billion.
Morphic Holding is dedicated to creating a range of oral integrin therapies targeting the treatment of severe chronic diseases, which include autoimmune disorders, cardiovascular and metabolic conditions, fibrosis, and cancer.
