Eli Lilly to buy Merida Biosciences in deal worth up to US$2.88 billion

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Eli Lilly agreed to buy Merida Biosciences for up to $2.88 billion in cash. The deal adds an experimental immunology treatment to Lilly’s pipeline and supports its push to expand beyond obesity and diabetes. Merida is developing precision therapeutics for autoimmune and allergy-related diseases, including a lead candidate for Graves’ disease and thyroid eye disease. Lilly expects the transaction to close in the fourth quarter.

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