Lilly to Acquire POINT Biopharma for $1.4 Billion, Gaining Radioligand Cancer Therapies

Lilly to acquire POINT Biopharma for $1.4 billion to expand into radioligand cancer therapies
POINT has late-stage prostate and neuroendocrine cancer radioligand therapies
POINT has radiopharmaceutical manufacturing and R&D facilities that will support Lilly
Acquisition expected to close near end of 2023, subject to conditions
POINT board unanimously recommends shareholders accept the $12.50 per share cash offer

prnewswire.com

Relevant topic timeline:

9/7/2023

Weight-Loss Drug Market Can Hit $100 Billion, J.P. Morgan Says. That Makes Eli Lilly Stock a Big Winner.

Eli Lilly could potentially generate $50 billion in annual sales from weight-loss drugs by 2030, positioning the pharmaceutical company as a major beneficiary in the obesity treatment market, according to J.P. Morgan.

9/16/2023

Eli Lilly Poised for Massive Growth with Diabetes, Obesity Drugs and Potential Alzheimer's Blockbuster

Eli Lilly, a biotech giant known for its work in diabetes and obesity care, has the potential to provide a CAGR of nearly 16% and turn an initial investment of $1,000 into $2,500 by 2030, driven by its strong growth in the therapeutic area and promising pipelines in other fields like Alzheimer's disease.

10/12/2023

Eli Lilly Soars on Diabetes Drug Success and Promising Obesity Treatment

Shares of pharmaceutical company Eli Lilly are on the rise, driven by the growth potential of its diabetes and obesity products, leading analysts to predict that it could become the first trillion-dollar bio-pharma company. The company's recent approval of Mounjaro for treating type 2 diabetes has resulted in strong revenue growth, and there is anticipation that it will also gain FDA approval for treating obesity. Wall Street analysts are optimistic about Eli Lilly stock, with a consensus rating of Strong Buy.

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Posted 10/3/2023, 10:45:00 AM