Eli Lilly To Acquire Small Company DICE Therapeutics Focused On Autoimmune Diseases For $2B
Portfolio Pulse from Vandana Singh
Eli Lilly has agreed to acquire biopharmaceutical company DICE Therapeutics for $2.4 billion. The acquisition will expand Lilly's pipeline with DICE's oral therapeutic candidates for immunology indications, including IL-17 inhibitors DC-806 and DC-853.
June 20, 2023 | 1:51 pm
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POSITIVE IMPACT
DICE Therapeutics' shareholders will receive a 40% premium on the 30-day volume-weighted average trading price, with shares up 38.1% following the acquisition announcement.
The acquisition price of $48 per share represents a 40% premium on the 30-day volume-weighted average trading price of DICE's common stock. This is a significant gain for DICE shareholders, and the stock price has already risen 38.1% following the announcement.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Eli Lilly's acquisition of DICE Therapeutics will expand its immunology pipeline with oral IL-17 inhibitors, potentially strengthening its position in the market.
The acquisition of DICE Therapeutics will provide Eli Lilly with access to DICE's proprietary DELSCAPE technology platform and oral therapeutic candidates for immunology indications. This could potentially strengthen Lilly's position in the immunology market and drive growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100