Eli Lilly and Company disclosed its intention to accumulate Morphic Holding, Inc. for approximately $3.2 billion on July 8, 2024. This acquisition will be executed through a tender offer of $57 per share in cash. Morphic’s flagship product, MORF-057, is a selective oral inhibitor of the α4β7 integrin currently being tested in Phase 2 trials for inflammatory bowel disease (IBD), including ulcerative colitis and Crohn’s disease. The acquisition aligns with Lilly's strategy to expand its portfolio in gastroenterology and enhance its capabilities in treating chronic diseases.
Lilly, a global leader in pharmaceuticals with a history of nearly 150 years, focuses on developing innovative therapies across various fields including diabetes, oncology, and immunology. Morphic, recognized for its expertise in integrin-based treatments and its MInT technology platform, will benefit from Lilly’s resources and commitment to advancing therapeutic solutions. The transaction, expected to close in the third quarter of 2024, is projected to offer significant benefits to both companies, with Morphic’s existing operations and leadership continuing under Lilly’s ownership.
