Lilly To Acquire Versanis To Improve Patient Outcomes In Cardiometabolic Diseases

Jul 14, 2023•about 2 years ago

Acquiring Company

Eli Lilly and Company

Acquired Company

Versanis

IndianapolisPharmaceuticalManufacturingHealth CareBiopharmaTherapeuticsBiotechnologyHealth Care

Description

Eli Lilly and Company (NYSE: LLY) and Versanis Bio today announced a definitive agreement for Lilly to acquire Versanis, a private clinical-stage biopharmaceutical company focused on the development of new medicines for the treatment of cardiometabolic diseases.

Company Information

Company

Eli Lilly and Company

Location

Indianapolis, Indiana, United States

About

Lilly is a medicine company turning science into healing to make life better for people around the world. They have been pioneering life-changing discoveries for nearly 150 years, and today their medicines help more than 51 million people across the globe. Lilly is focused on redefining diabetes care, treating obesity, advancing the fight against Alzheimer's disease, providing solutions to immune system disorders, and transforming difficult-to-treat cancers into manageable diseases.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed

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Lilly To Acquire Versanis To Improve Patient Outcomes In Cardiometabolic Diseases

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Company Information