Health Care Company Eli Lilly Announces Acquisition of DICE Therapeutics
Portfolio Pulse from Benzinga Insights
Eli Lilly (NYSE:LLY) has announced the acquisition of DICE Therapeutics (NASDAQ:DICE) for $2.40 billion in cash, expected to be completed in Q3 of 2023. Eli Lilly is a drug firm focused on neuroscience, cardiometabolic, cancer, and immunology, while DICE Therapeutics is a biopharmaceutical company developing oral therapeutic candidates for chronic diseases.
June 20, 2023 | 3:10 pm
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DICE Therapeutics will be acquired by Eli Lilly for $2.40 billion in cash, providing liquidity to DICE shareholders.
The acquisition by Eli Lilly provides DICE Therapeutics shareholders with liquidity, as they will receive cash in exchange for their shares. This could lead to a positive short-term impact on DICE's stock price, as shareholders may view the acquisition as a favorable outcome.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Eli Lilly's acquisition of DICE Therapeutics for $2.40 billion could expand its product pipeline in immunology and other therapeutic areas.
The acquisition of DICE Therapeutics will allow Eli Lilly to expand its product pipeline in immunology and other therapeutic areas. This could potentially lead to new revenue streams and strengthen its position in the market, positively impacting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100