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Wajeeh Khan

A $2.88 Billion Reason Why Eli Lilly Stock Is in Focus Today

LLY Eli Lilly Lilly Merida Barchart

Eli Lilly (LLY) shares are in the spotlight on Monday after the pharmaceutical behemoth announced a $2.88 billion acquisition of Merida Biosciences. The all-cash acquisition of the biotechnology company marks LLY’s latest move to expand its drug pipeline.

Note that Eli Lilly stock has been a blockbuster investment in recent months, currently up roughly 35% versus its year-to-date low in late April.

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