Lilly Completes Acquisition Of Verve Therapeutics

(RTTNews) - Eli Lilly and Co. (LLY) announced Friday the successful completion of its acquisition of Verve Therapeutics, Inc. (VERV). Verve is a Boston-based clinical-stage company developing genetic medicines for cardiovascular disease.

Lilly said the acquisition unlocks the opportunity to potentially transform the treatment paradigm for millions of patients worldwide by delivering lifelong cardiovascular risk reduction with a one-and-done treatment.

On June 17, Lilly agreed to acquire Verve for up to $13.50 per share or up to around $1.3 billion, including around $1.0 billion in cash.