Eli Lilly Reportedly in Talks to Acquire Ventyx Biosciences, Sending Target's Shares Soaring Over 50% After Hours
Deep News
Jan 07
According to individuals familiar with the matter, Eli Lilly is engaged in advanced negotiations to acquire Ventyx Biosciences, Inc., in a potential deal valued at over $1 billion.
Spurred by this news, Ventyx's stock price surged more than 50% in after-hours trading.
A potential acquisition of Ventyx would grant Eli Lilly access to medications for inflammatory bowel diseases, such as Crohn's disease and ulcerative colitis, alongside treatments for conditions like Parkinson's disease.
An experimental drug developed by Ventyx is currently in the research and development phase for treating cardiovascular diseases associated with obesity.
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