Eli Lilly Announces $2.88 Billion Acquisition of Merida Biosciences
Eli Lilly (LLY) is in the spotlight after announcing a $2.88 billion all-cash acquisition of biotechnology firm Merida Biosciences, aiming to expand its drug pipeline into allergic and autoimmune disorders. The deal underscores LLY's strategy to reinvest cash reserves into high-potential innovations while strengthening long-term revenue growth. Eli Lilly shares have surged by about 35% year-to-date amid strong performance from blockbuster drugs like Mounjaro and Zepbound, which drove a 48% increase in Q2 revenue. The company recently raised its full-year guidance to at least $85 billion in revenue. Analysts maintain a
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