Lilly's 13 acquisitions in 2026, worth about $32B, are recycling cash back to at least 50 biotech venture investors.

Eli Lilly acquires Merida Biosciences for up to $2.875B, gaining MER511 for thyroid eye disease/Graves' disease and MER769 for allergic conditions like asthma.

Lilly's 13 acquisitions in 2026, worth about $32B, are recycling cash back to at least 50 biotech venture investors.