News brief­ing: Eli Lil­ly com­pletes $1B+ Pre­vail buy­out; El­zon­ris ap­proved in Eu­rope for adults

Eli Lil­ly’s $1.04 bil­lion takeover of Pre­vail Ther­a­peu­tics is of­fi­cial­ly com­plete, the com­pa­ny an­nounced Fri­day.

The sides had en­tered in­to the buy­out agree­ment last month with Lil­ly fo­cus­ing on Pre­vail’s pipeline of gene ther­a­pies, high­light­ing two AAV9 pro­grams in Parkin­son’s dis­ease and fron­totem­po­ral de­men­tia as po­ten­tial win­ners. Lil­ly paid $22.50 per share, which amount­ed to an 82% pre­mi­um over the pre­vi­ous day’s clos­ing price and a 117% pre­mi­um over Pre­vail’s 60-day av­er­age.

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