logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Drug major Johnson & Johnson's single-shot COVID-19 vaccine is safe and effective as per the trial data submitted for Emergency Use Authorization, the US Food and Drug Administration said. The vaccine, known as Ad26.COV2.S, was found to prevent severe disease and death from Covid. The vaccine's EUA will be decided in a vote by FDA's vaccine advisory panel on Friday. Best Buy Co., Inc. is offering paid time off as vaccine benefit to all its employees amid the ongoing vaccinations against coronavirus. The company also announced bonuses to its hourly employees as a gratitude for the resilience shown by them as frontline workers during the crisis. The electronics retailer said it is offering paid time off for any employee who gets a COVID-19 vaccination. Entertainment company Walt Disney Co.'s exclusive streaming service Disney+ has added more content with the addition of the Star brand which launched today on the platform across Australia, New Zealand, Canada, and Europe. Disney+ with Star also launched today in Singapore, the first market to launch with the new general entertainment brand.
Follow RTT