Deal or no deal!We can continue to hope for!
Eli Lilly surged to an all-time high this year and notched a gain of nearly 50 per cent on its suite of products to treat obesity. But today the company is announcing a $1.4-billion deal for a cancer-drug maker. Eli Lilly is buying Point Biopharma, which has a promising drug for prostate cancer that doesn’t respond to hormonal treatment. Shares of Point are rallying as the $12.50 per share offer deal is an 87 per cent premium to yesterday’s closing price. However, it is barely above the $10 per share IPO price from 2020.