Eli Lilly and Co. is buying a Waltham biotech in a deal valued at around $3.2 billion.
The startup being acquired is Morphic Holding Inc., a Waltham company working on treatments for chronic diseases such as types of inflammatory bowel disease.
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Indianapolis-based Lilly plans to acquire all outstanding shares of Morphic for $57 per share in cash. The purchase price at closing is a premium of around 79% to the closing stock price on Friday.
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