Eli Lilly, 10expands in infectious diseases and vaccines through a multibillion-dollar acquisition
Eli Lilly announced it would acquire 3 companies, including Curevo, LimmaTech and Vaccine Company5 of 26. The targets are developing vaccines for shingles, antibiotic-resistant bacteria and Epstein-Barr virus. The stock rose on the announcement date, and the analyst consensus was “Buy,” with a price target of 1,241 dollars.
Eli Lilly announced the acquisition of three biotech companies on 5, 26. The companies being acquired are Curevo Inc., LimmaTech Biologics AG and Vaccine Company, Inc. The company said the acquisitions would expand its infectious disease and vaccine portfolio.
The three companies’ key pipeline programs are vaccines for shingles, antibiotic-resistant bacteria and Epstein-Barr virus. Eli Lilly said it would link each technology to clinical development stages to increase the likelihood of commercialization. It also disclosed specific clinical timelines and integration plans.
The company described the acquisitions as a “10-dollar-scale acquisition spree.” It disclosed that once the acquisitions are completed, its research and development capabilities and vaccine candidates will expand. Some financial details remain undisclosed.
The share price reacted immediately after the announcement. Over the past 12 months, the share price has risen 46.85%; on Tuesday, the day of the announcement, it rose 1.28%. The analyst consensus rating for the company is listed as “Buy.”
The analyst price target is set at 1,241 dollars. In a press release, the company explained the purpose of the acquisition and its expected effects. It said further details and whether regulatory approval is granted would be announced in a subsequent filing.
Sources: Benzinga
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