Eli Lilly Stock Rises. Itβs Acquiring This Cell Therapy Company for $2.4 Billion.
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Eli Lilly shares rose after the Mounjaro maker said it had agreed to acquire biotechnology company Orna Therapeutics for $2.4 billion in cash. The deal value comprises an upfront payment and subsequent payments upon the achievement of clinical development milestones, Lilly said. Orna Therapeutics develops RNA drugs targeting cancers, genetic disorders, and other chronic conditions.
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Eli Lilly shares rose after the Mounjaro maker said it had agreed to acquire biotechnology company Orna Therapeutics for $2.4 billion in cash. The deal value comprises an upfront payment and subsequent payments upon the achievement of clinical development milestones, Lilly said. Orna Therapeutics develops RNA drugs targeting cancers, genetic disorders, and other chronic conditions.