Eli Lilly and Company’s logo is displayed during a press conference in Houston, Texas, U.S., Sept. 23, 2025.
Antranik Tavitian | Reuters
Eli Lilly said on Monday it would buy privately held Merida Biosciences for up to $2.88 billion in cash, as it seeks to expand its pipeline of potential treatments for immunity-related and allergic diseases.
Lilly has been on an acquisition spree, boosted by the booming demand for its obesity drugs. Its deal spending in 2026 has outpaced that in the prior years.
Merida is developing medicines to selectively target antibodies that cause a range of immunity-related conditions.
Its lead drug candidate, MER511, is in the early stage of development for autoimmune disorders such as Graves’ disease and thyroid eye disease.
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