Eli Lilly to Buy Merida Biosciences for Up to $2.88 Billion

Eli Lilly plans to buy Merida Biosciences Inc. for as much as $2.88 billion in cash to expand in autoimmune and allergic diseases, according to Bloomberg. The deal is part of Lilly’s effort to build beyond the weight-loss and diabetes markets that made it the world’s largest pharmaceutical company.