Eli Lilly stock edges higher as company plans nearly $4 billion in vaccine deals
Eli Lilly has announced plans to acquire three companies for nearly $4 billion to enhance its research in infectious diseases. The acquisitions include Curevo, LimmaTech Biologics, and Vaccine Company, with respective deal values of $1.5 billion, $780 million, and $1.55 billion. Following the announcement, Eli Lilly's stock saw a 1.3% increase in premarket trading.
- ▪Eli Lilly plans to acquire three companies for almost $4 billion.
- ▪The companies being acquired are Curevo, LimmaTech Biologics, and Vaccine Company.
- ▪Eli Lilly's stock rose 1.3% in premarket trading after the announcement.
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Eli Lilly on Tuesday announced plans to acquire three companies for almost $4 billion in cash, as it looks to expand its research and development business into infectious diseases.The company said it had agreed deals to buy Curevo, LimmaTech Biologics and Vaccine Company for $1.5 billion, $780 million and $1.55 billion, respectively. Shares of Eli Lilly rose 1.3% in premarket trading on the news."These acquisitions reflect a deliberate strategy to prevent disease at its source rather than treat its consequences," Daniel M. Skovronsky, chief scientific and product officer and president, said in a statement.This is breaking news story, please refresh for updates.
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