Eli Lilly Expands Oncology Capabilities with $1.4B Point Biopharma Acquisition

Eli Lilly and Co has announced its acquisition of Point Biopharma Global for $1.4 billion, gaining access to targeted cancer therapies. The deal will provide Lilly with experimental therapies that combine radioactive particles with molecules that attach themselves to tumors. Point Biopharma is currently testing these therapies in late-stage studies. The acquisition is part of Lilly's strategy to bolster its pipeline amid competition for its cancer therapy Alimta. The deal is not expected to face regulatory hurdles, and Lilly will also gain access to Point Biopharma's manufacturing plant for radiopharmaceuticals.