Lilly to Acquire POINT Biopharma in Transaction Valued at USD 1.4bn.
MANews-(C)2009-2023
US-based pharmaceutical company Eli Lilly and Company (NYSE: LLY) has agreed to acquire radiopharmaceutical company POINT Biopharma Global, Inc. (NASDAQ: PNT), with a pipeline of clinical and preclinical-stage radioligand therapies in development for the treatment of cancer, the company said.
Lilly will commence a tender offer to acquire all outstanding shares of POINT for a purchase price of USD 12.50 per share in cash (an aggregate of approximately USD 1.4bn) payable at closing.
The transaction is not subject to any financing condition and is expected to close near the end of 2023, subject to customary closing conditions.
The purchase price payable at closing represents a premium of approximately 87% to POINT's closing stock price on Oct. 2, 2023.
Radioligand therapy can enable the precise targeting of cancer by linking a radioisotope to a targeting molecule that delivers radiation directly to cancer...
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