June 20 (Reuters) - Eli Lilly and Co (LLY.N) agreed to buy Dice Therapeutics Inc (DICE.O) for about $2.4 billion in cash on Tuesday, bolstering its immune disease-related portfolio with a largely oral drug developer.
Dice's lead drug DC-806, which is currently in a mid-stage trial, is an immunology drug for a skin condition called psoriasis and other diseases.
Indianapolis-headquartered Lilly is focusing on immunology to drive future growth, along with a widely expected approval of obesity drug candidate tirzepatide.
Lilly has offered Dice $48 per share in cash, a premium of about 42% to the stock's last close.
Lilly's Taltz garnered $2.48 billion in 2022 while its other immunology drug Olumiant generated $830.5 million in sales.
Persons:
Eli Lilly, Taltz, Lilly, tirzepatide, Lilly's Taltz, Alex Thompson, Leroy Leo, Khushi, Sriraj
Organizations:
Dice Therapeutics, U.S . Federal Trade Commission, Pharmaceuticals, Thomson
Locations:
Indianapolis, Bengaluru