Eli Lilly to buy Dice Therapeutics in $2.4 billion deal (updated)

Dice Therapeutics

20/06/2023 11:57

(Adds details throughout, shares in paragraph 2)
       June 20 (Reuters) - Eli Lilly and Co  LLY.N  will buy
Dice Therapeutics Inc  DICE.O  in an all-cash deal worth about
$2.4 billion to boost its autoimmune drug portfolio, the
companies said on Tuesday.
    Lilly has offered Dice $48 per share in cash, a premium of
about 42% premium to the stock's last close. Shares of Dice were
up 37.4% in premarket trade on Tuesday.
    The companies expect to close the deal in the third quarter,
subject to regulatory clearances.

 (Reporting by Leroy Leo in Bengaluru' Editing by Sriraj
Kalluvila)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))