(Reuters) – Eli Lilly and Co will buy Dice Therapeutics Inc in an all-cash deal worth about $2.4 billion to boost its autoimmune drug portfolio, the companies said on Tuesday.
Lilly has offered Dice $48 per share in cash, a premium of about 42% premium to the stock’s last close. Shares of Dice were up 37.4% in premarket trade on Tuesday.
The companies expect to close the deal in the third quarter, subject to regulatory clearances.
(Reporting by Leroy Leo in Bengaluru’ Editing by Sriraj Kalluvila)
