Eli Lilly and Co

LLY: XNYS (USA)
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Eli Lilly: Announced Morphic Acquisition Yields Potential New Blockbuster Inflammatory Bowel Drug

We are holding steady to our fair value estimate for Eli Lilly following the announced Morphic acquisition at just over $3 billion. We believe Morphic’s lead drug candidate MORF-057 for inflammatory bowel disease (IBD) was the key reason for the deal. The drug holds the potential to develop into a blockbuster and reinforce Lilly’s wide moat.

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