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Key Takeaways Eli Lilly said it would buy Morphic for roughly $3.2 billion or $57 per share, a nearly 80% premium to Friday's closing price.Morphic is developing a treatment for inflammatory bowel disease.
Eli Lilly will acquire biopharmaceutical firm Morphic Holding in a deal valued at $3.2 billion, both companies announced Monday, a transaction that includes an experimental medication for inflammatory bowel disease and treatments for other chronic diseases.
Shares of Morphic Holding Inc. rocketed 76% in premarket trading Monday, after the biopharmaceutical company announced an agreement to be acquired by Eli Lilly & Co. in a cash deal valued at about $3.