Why Eli Lilly Stock Is Trading Lower Today
Portfolio Pulse from Ryan Gustafson
Eli Lilly and Company (LLY) announced the acquisition of POINT Biopharma for approximately $1.4 billion, causing its shares to trade lower. The transaction is expected to close by the end of 2023.
October 03, 2023 | 6:16 pm
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Eli Lilly's stock price fell after the announcement of the acquisition of POINT Biopharma.
The acquisition announcement led to a decrease in Eli Lilly's stock price. This is likely due to the significant cost of the acquisition, which could impact the company's short-term financial performance.
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IMPORTANCE 80
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