Lilly to Buy Merida for $2.88B in Autoimmune Push

Eli Lilly announced plans to acquire Merida Biosciences Inc. for up to $2.88 billion in cash, according to Bloomberg. The purchase is aimed at expanding Lilly's portfolio in autoimmune and allergic diseases. Lilly has become the world's largest pharmaceutical company based on market value, driven primarily by its weight-loss and diabetes drug franchises.

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