Eli Lilly: agreement reached to acquire Point Biopharma
(CercleFinance.com) - Eli Lilly announces a definitive agreement to acquire Point Biopharma, a radiopharmaceutical company that has a portfolio of radioligand therapies in clinical and preclinical development for the treatment of cancer.
NB: pmt pretty flat.
Radioligand therapy can enable the precise targeting of cancer, providing significant anti-tumor efficacy, while limiting the impact on healthy tissue, the pharmaceutical company said.
Under the agreed terms, Eli Lilly will launch a tender offer for all its outstanding shares at a purchase price of $12.50 per share (totaling about $1.4bn), payable at closing.
The transaction has been approved by both companies' Boards of Directors. It is not subject to any funding conditions, and is expected to close towards the end of 2023, subject to customary requirements.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
NB: pmt pretty flat.
Radioligand therapy can enable the precise targeting of cancer, providing significant anti-tumor efficacy, while limiting the impact on healthy tissue, the pharmaceutical company said.
Under the agreed terms, Eli Lilly will launch a tender offer for all its outstanding shares at a purchase price of $12.50 per share (totaling about $1.4bn), payable at closing.
The transaction has been approved by both companies' Boards of Directors. It is not subject to any funding conditions, and is expected to close towards the end of 2023, subject to customary requirements.
Copyright (c) 2023 CercleFinance.com. All rights reserved.