SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Trump’s Approval of AI Chip Sales to China Triggers Bipartisan National Security Concerns 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
Air Transat Reaches Tentative Agreement With Pilots, Avoids Strike and Restores Normal Operations 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Nvidia Develops New Location-Verification Technology for AI Chips 
CVS Health Signals Strong 2026 Profit Outlook Amid Turnaround Progress 
EssilorLuxottica Bets on AI-Powered Smart Glasses as Competition Intensifies 
Westpac Director Peter Nash Avoids Major Investor Backlash Amid ASX Scrutiny 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Microsoft Unveils Massive Global AI Investments, Prioritizing India’s Rapidly Growing Digital Market 
Gulf Sovereign Funds Unite in Paramount–Skydance Bid for Warner Bros Discovery 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
China Adds Domestic AI Chips to Government Procurement List as U.S. Considers Easing Nvidia Export Curbs 
Eli Lilly and Company announced on Wednesday, Dec. 27, that it has successfully completed its buyout of the radiopharmaceutical firm that develops cancer treatment, POINT Biopharma Global Inc. The deal is worth about $1.4 billion.
Total Shares Acquired
The multi-million price is for Eli Lilly's acquisition of almost 72.8 million shares of POINT Biopharma. This portion of the shares is said to correspond to more or less 67.97% of the outstanding shares.
As per RTT News, the biopharma firm has a line of clinical and preclinical-stage radioligand therapies that are currently in development. These are for the treatment of cancer diseases, and Eli Lilly is bound to benefit from this as the companies merge. In any case, with the acquisition, Point Biopharma is now set to be delisted from the Nasdaq.
Financial Terms and Other Details of the Deal
Eli Lilly's tender offer to buy all of the issued and outstanding shares of common stock of the Pittsburgh, Pennsylvania-headquartered biopharma company at a purchase price of $12.50 per share without interest has expired right on schedule of 5:00 p.m. on Dec. 22; thus an extension was not necessary. The amount will be paid in cash, less any applicable tax withholding.
"Next-generation radioligand therapies hold great promise for delivering meaningful advances against a range of cancers and we are excited to enter this space through the addition of POINT," Loxo@Lilly's executive vice president and president, Jacob Van Naarden, said in a press release. "We welcome POINT colleagues to Lilly and look forward to working together to build on their work as we create this new capability within Lilly. In time, I hope we can bring several new radioligand therapies to patients with cancer and improve their outcomes."
Goldman Sachs & Co. LLC has been hired as Eli Lilly's exclusive financial advisor, while Kirkland & Ellis LLP is serving as its legal counsel. On the other hand, POINT Biopharma appointed Centerview Partners LLC as its financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as its legal counsel.
Photo by: Lilly Press Release
