The logo for Eli Lilly And Co hangs at the entrance to the New York Stock Exchange after the opening bell on Wall Street on May 11, in New York City. Eli Lilly announced Tuesday that it is acquiring three vaccine companies in deals totaling nearly $4 billion. Photo by John Angelillo/UPI | License Photo
May 26 (UPI) -- Eli Lilly announced Tuesday that it is acquiring three vaccine companies in deals totaling nearly $4 billion.
Eli LIlly is acquiring Curevo Inc., LimmaTech Biologics AG and Vaccine Company, Inc., expanding its research and development in vaccines for infectious diseases. The deal for Vaccine Company is the largest at $1.55 billion, followed by Curevo at $1.5 billion and LimmaTech Biologics AG for up to $780 million in cash.
"These acquisitions reflect a deliberate strategy to prevent disease at its source rather than treat its consequences," Daniel M. Skovronsky, chief scientific and product officer and president of Lilly Research Laboratories, said in a statement.
"Decades of evidence now link common infections to diseases that potentially emerge years later, including neurological disease, cancer and infertility. And as antimicrobial resistance erodes our ability to treat bacterial infections, vaccines are increasingly the only path to prevention. Combining these companies' platforms and teams with Lilly's global scale positions us to change that trajectory."
