Eli Lilly & Co. signage is displayed outside the company’s office in La Jolla, California, U.S., on Tuesday, Aug. 23, 2011.
Eli Lilly and Co. is buying a Waltham biotech in a deal valued at around $3.2 billion.
The startup being acquired is Morphic Holding Inc., a Waltham company working on treatments for chronic diseases such as types of inflammatory bowel disease.
Indianapolis-based Lilly plans to acquire all outstanding shares of Morphic for $57 per share in cash. The purchase price at closing is a premium of around 79% to the closing stock price on Friday.
