Eli Lilly continues to make news by announcing its complete acquisition of the Massachusetts-headquartered Sigilon on 14 August. The deal between both companies totalled $309.6m. This follows Sigilon’s inability to break even after a recorded massive surge in sales in its second quarter 2023 financials. The biotech reported a landmark sales elevation of 104.648% yoy at $5.9m.
The merger agreement means Lilly will continue to develop encapsulated cell therapies, including SIG-002, to treat type 1 diabetes.
Another move of Lilly’s to purchase Versanis, , including its lead candidate bimagrumab, is successful completed at a deal of $1.93bn. This acquisition means that Eli Lilly’s weight loss drug pipeline will receive a further boost to possibly surpass its competitor, Novo Nordisk.
After Eli Lilly released its second quarter 2023 financial results reporting a 22% increase in revenue excluding the sales of Baqsimi and Covid-19 antibodies in 2022, more people are talking about their investment in the company. The news of Lilly’s acquisitions skyrocketed its stock price to close at $538.00 on 14 August and $546.24 as of the market close yesterday, with a market cap of $518.90bn.
Another recent acquisition is Novartis’ deal with Chinook, the biopharma focused on kidney disease therapies. The transaction was sealed at $3.2bn upfront.
Our signals coverage is powered by GlobalData’s Thematic Engine, which tags millions of data items across six alternative datasets – patents, jobs, deals, company filings, social media mentions and news — to themes, sectors and companies. These signals enhance our predictive capabilities, helping us to identify the most disruptive threats across each of the sectors we cover and the companies best placed to succeed.
Source link
#Signal #Tweets #week #focus #Eli #Lillys #acquisitions
