Eli Lilly to acquire Merida Biosciences for up to $2.875 billion

Eli Lilly has entered into an agreement to acquire Merida Biosciences for up to $2.875 billion. The transaction, which includes both cash payments and milestone-based payments, is expected to close in the fourth quarter of 2026, pending regulatory approvals.

This acquisition aims to strengthen the company's biopharmaceutical research capabilities. This follows the late August announcement of the acquisition of Engage Biologics Inc. for up to $202 million in cash, a move intended to secure access to a non-viral DNA transfer platform to complement Eli Lilly's existing genetic medicine portfolio.