Pharmaceutical company Eli Lilly plans to acquire Morphic, a biopharmaceutical company that specializes in treating gastroenterology patients, for $3.2 billion.
Morphic's lead program is an oral treatment for inflammatory bowel disease patients, according to a July 8 news release.
The molecule is also being evaluated to treat patients with ulcerative colitis and Crohn's disease.
The transaction has been approved by the boards of directors of both com