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Eli Lilly and Company

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Eli Lilly targets autoimmune pipeline with $2.875bn Merida Biosciences acquisition

Eli Lilly is paying up to $2.875 billion for privately held Merida Biosciences only about 17 months after the biotech launched with $121 million. The lead asset remains in Phase 1, making the transaction less a conventional pipeline purchase than a bet that selectively eliminating disease-causing antibodies can open a new class of autoimmune and allergy medicines.