Lilly to Acquire Morphic for $3.2B

Brief of the news:

"Eli Lilly will buy bowel-disease drugmaker Morphic Holding for $3.2 billion in cash, adding firepower to its immunology pipeline. The Massachusetts-based Morphic is developing a drug to treat both Crohn’s disease and ulcerative colitis, a condition in which the immune system causes inflammation and ulcers in the colon. The drug, currently in the advanced stages of research, would complement Lilly’s own colitis treatment and add to the pharmaceutical giant's lineup of best-selling diabetes and obesity drugs Mounjaro and Zepbound."