With the acquisition of Merida Biosciences, Eli Lilly is gaining a precision degradation platform for therapies that selectively target and destroy pathologic antibodies for allergic and autoimmune diseases.

Eli Lilly and Company has agreed to acquire Merida Biosciences for up to $2.875 billion in cash, adding a precision immunology platform designed to selectively eliminate disease-causing antibodies across autoimmune and allergic conditions.

Eli Lilly (NYSE:LLY) stayed in focus as fresh healthcare approvals framed the sector, tying the drugmaker to metabolic-medicine demand and a defensive theme.

/PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) and Merida Biosciences, Inc. (Merida), a biotechnology company advancing a new class of precision...

Eli ⁠Lilly ​plans to buy privately held ⁠Merida Biosciences for ‌up to $2.88 billion ​in cash.

The FDA is broadening what Eli Lilly’s Mounjaro can be used to treat. (Source: Eli Lilly and Company)

The FDA is broadening what Eli Lilly’s Mounjaro can be used to treat. (Source: Eli Lilly and Company)

The FDA is broadening what Eli Lilly’s Mounjaro can be used to treat. (Source: Eli Lilly and Company)

The FDA is broadening what Eli Lilly’s Mounjaro can be used to treat. (Source: Eli Lilly and Company)

The FDA is broadening what Eli Lilly’s Mounjaro can be used to treat. (Source: Eli Lilly and Company)