Lilly quietly completes purchase of Padcev competitor, estimated at nearly half a billion dollars
Eli Lilly completed its acquisition of antibody-drug conjugate biotech Emergence Therapeutics, the Indianapolis pharma company confirmed to Endpoints News Wednesday.
The buyout closed on Aug. 24, a Lilly spokesperson told Endpoints in an email. Lilly paid an estimated $470 million, with $335 million in potential milestones, as calculated by Endpoints and multiple analysts.
Eli Lilly and Emergence’s CEO Jack Elands declined to confirm the size of the deal.
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