Eli Lilly to Acquire Merida Biosciences for Up to $2.875 Billion

Eli Lilly and Company announced on Monday, August 31, 2026, that it has agreed to acquire Merida Biosciences Inc. in a deal valued at up to $2.875 billion in cash. The acquisition, which is subject to regulatory approval and other customary closing conditions, is expected to be finalized in the fourth quarter of 2026. The move represents a significant bet by the pharmaceutical giant on a novel approach to treating autoimmune and allergic diseases by targeting the specific biological agents that cause them. The transaction structure includes an upfront payment, with the total value potentially reaching $2.875 billion through contingent milestone payments.