Eli Lilly Finalizes Morphic Acquisition

Eli Lilly has completed the acquisition of Morphic Holding Inc., a biopharmaceutical company developing oral integrin therapies for treatment of serious chronic diseases.

Morphic's portfolio includes a selective oral small molecule inhibitor of α4β7 integrin (known as MORF-057) for inflammatory bowel disease (IBD).

"We are committed to exploring innovative approaches for immunologic diseases and believe Morphic's pipeline holds promise in improving outcomes and expanding treatment options for people with devastating conditions like IBD," said Daniel Skovronsky, chief scientific officer of Lilly and president, Lilly Research Laboratories and Lilly Immunology.

"Acquiring Morphic reinforces our growing capabilities in gastroenterology, building on the strong foundation of Omvoh, our first-in-class molecule already approved and launched around the world for ulcerative colitis and under regulatory review for Crohn's disease. Further, the acquisition allows Lilly to research potential combination treatments that could better serve people beyond what is possible with currently available medicines," he added.

In June, Lilly announced the opening of a $2 billion pharma facility in Concord, NC. And in April, Lilly acquired the new injectable medicine manufacturing facility in Pleasant Prairie, WI from from Nexus Pharmaceuticals LLC.

As well, last fall the pharma giant acquired cancer drug company POINT Biopharma for $1.4 billion, which added to Eli Lilly's oncology portfolio.