Lilly to acquire three vaccine developers for nearly $4-billion
Eli Lilly has announced plans to acquire three vaccine developers for nearly $4 billion, marking a significant expansion into infectious disease prevention. The acquisitions include Curevo, LimmaTech Biologics, and Vaccine Co., each focusing on different vaccine developments. This move follows Lilly's recent success in the obesity drug market, allowing the company to diversify its therapeutic portfolio.
- ▪Eli Lilly will acquire Curevo for up to $1.5 billion, which is developing a shingles vaccine.
- ▪LimmaTech Biologics will be acquired for up to $780 million, focusing on vaccines against bacterial pathogens.
- ▪The Vaccine Co. is developing a vaccine for Epstein-Barr virus, with Lilly agreeing to pay up to $1.55 billion.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountEli Lilly LLY-N said on Tuesday it will buy three vaccine developers in deals worth up to nearly US$4-billion in combined value, signalling a push by the drugmaker into infectious disease prevention.The drugmaker riding a wave of cash from the booming demand for its obesity drugs has been on an acquisition spree as it expands beyond weight loss to other therapeutic areas.The company has agreed to acquire Curevo, LimmaTech Biologics and Vaccine Co.Lilly shares were up 1.6 per cent in premarket trading.Curevo shareholders could receive up to US$1.5-billion in cash, inclusive of an upfront payment, and a subsequent payment on achieving a specified milestone.
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