Lilly Closes Acquisition Of Prevail Therapeutics

Eli Lilly and Co. (LLY) said that it has completed its acquisition of Prevail Therapeutics Inc. (PRVL).

Lilly said that the impact of the transaction will be reflected in its 2021 financial results according to GAAP. There will be no change to Lilly's 2021 financial guidance for research and development expense or non-GAAP earnings per share as a result of the transaction.

In Mid-December 2020, Lilly had agreed to acquire Prevail for $22.50 per share in cash or an aggregate of approximately $880 million payable at closing plus one non-tradable contingent value right worth up to $4.00 per share in cash or an aggregate of about $160 million, for a total consideration of up to $26.50 per share in cash or an aggregate of approximately $1.040 billion.

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