Eli Lilly stock edges higher as company plans nearly $4 billion in vaccine deals

Eli Lilly On Tuesday, it announced plans to buy three companies for about $4 billion in cash as it plans to expand its research and development business into infectious diseases.

The company said it has entered into agreements to acquire Curevo, LimmaTech Biologics and Vaccine Company for $1.5 billion, $780 million and $1.55 billion, respectively.

Shares of Eli Lilly rose 1.3% in premarket trading on the news.

“These acquisitions reflect a deliberate strategy to prevent disease at the source rather than treat its consequences,” Daniel M. Skovronsky, chief scientific and product officer and president, said in a statement. he said.

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