M&A
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Eli Lilly to buy gene therapy developer Prevail in deal valued at $1.04 billion

Lilly said it would acquire Prevail for $22.50 per share, which represents a premium of 80% to Monday's closing price. The deal also includes a "contingent value right" worth $4 per share in cash, contingent upon certain milestones being achieved.

Reuters

Published On Dec 15, 2020 at 05:31 PM IST

CU.S. drugmaker Eli Lilly and Co said on Tuesday it would buy Prevail Therapeutics Inc in a deal valued at $1.04 billion, to expand its presence in the lucrative field of gene therapy.

Lilly said it would acquire Prevail for $22.50 per share, which represents a premium of 80% to Monday's closing price. The deal also includes a "contingent value right" worth $4 per share in cash, contingent upon certain milestones being achieved.