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Eli Lilly Close to $1.3 Billion Bid for Biotech, Says Report. Verve Therapeutics Stock Soars 80%.

1. Lilly acquires Verve Therapeutics for up to $1.3 billion. 2. Lilly pays $10.50 per share upfront, plus milestone payments. 3. Verve's treatments aim to significantly lower cholesterol. 4. Acquisition could enhance Lilly's gene-editing capabilities. 5. The deal signals confidence in gene-editing's commercial viability.

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$801.1206/17 10:34 AM EDTEvent Start
$785.0306/18 04:37 PM EDTLatest Updated
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FAQ

Why Bullish?

The acquisition bolsters Lilly's position in a growing gene-editing market, potentially driving future revenue.

How important is it?

The acquisition reflects Lilly's strategic pivot, enhancing its R&D and market offerings in cardiovascular treatments.

Why Long Term?

Long-term growth is expected as drug development progresses; historical acquisitions tend to yield benefits over time.

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