- In an effort to strengthen its treatment offerings for immune-related diseases, Eli Lilly announced a $2.4 billion agreement to acquire Dice Therapeutics. The deal involves Eli Lilly purchasing Dice for $48 per share in cash, which is approximately a 40% premium compared to the closing price of Dice's shares on Friday. The transaction is anticipated to be completed in the third quarter of this year.
- Lilly, a leading biopharma firm, is known for its strong position in diabetes and obesity treatments. However, it has been less successful in marketing autoimmune condition treatments, an area dominated by blockbuster drugs. The acquisition of DICE Therapeutics aims to address this gap.
Why it matters
Lilly's acquisition of DICE enables the company to utilize their emerging treatments for chronic immunological conditions, signaling a strategic expansion into the field of autoimmune disorders for the long-established healthcare company, which has been operating for 147 years.
