LLY.US confirms acquisition of Ventyx Biosciences (VTYX.US) for $14 per share

The Zhitong Finance App learned that LLY.US (LLY.US) has confirmed that it has agreed to acquire Ventyx Biosciences (VTYX.US) for $14 per share in cash. The total equity value of the deal is approximately $12 billion, according to a statement released on Wednesday. The deal is not subject to any financing conditions and is expected to close in the first half of this year. Bank of America Securities acted as Eli Lilly's exclusive financial advisor, and Jeffrey served as Ventyx's chief financial advisor.

San Diego-based Ventyx focuses on developing drugs to treat inflammatory diseases such as Crohn's disease and rheumatoid arthritis, and Eli Lilly's acquisition of the company aims to expand its immunology business.

Eli Lilly said immunology is a key growth area, and the company hopes to further expand its business based on its tremendous success in the treatment of diabetes and obesity. These successes have attracted the attention of investors and patients. The company currently sells a variety of medications to treat inflammatory diseases such as arthritis and psoriasis, including Taltz, but Taltz's key patent protections will expire in the next few years.

Meanwhile, the company is seeking acquisitions to expand its product line. In 2024, the company acquired Morphic Therapeutics for $3.2 billion to obtain an experimental drug to treat inflammatory bowel disease. Additionally, the company spent $2.4 billion to acquire Dice Therapeutics, a company that develops oral psoriatic treatments.