Eli Lilly to buy cancer-focused Point Biopharma for $1.4 billion (updated)

POINT Biopharma Global

03/10/2023 12:02

(Adds details in paragraph 2, 3 and shares in paragraph 4)
       Oct 3 (Reuters) - Eli Lilly and Co  LLY.N  will buy
cancer therapy developer Point Biopharma Global  PNT.O  for $1.4
billion, the companies said on Tuesday.
    Lilly has offered $12.50 per Point Biopharma share held,
representing a premium of about 87% to the stock's last close.
    Point Biopharma's shares soared 84% in premarket trading. 
    The companies expect the deal to close by the end of 2023. 
    

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