Eli Lilly to buy radiopharma company Point Biopharma for $1.4B as PhIII readout looms

On a deal­mak­ing spree, Eli Lil­ly will buy an­oth­er can­cer biotech, this time swoop­ing in for pub­licly trad­ed ra­dio­phar­ma com­pa­ny Point Bio­phar­ma in a cash ac­qui­si­tion worth about $1.4 bil­lion.

Lil­ly’s ad­di­tion of a ra­dio­phar­ma­ceu­ti­cal com­pa­ny comes as the space heats up with new star­tups, a re­cent IPO from Rayze­Bio and high de­mand for No­var­tis’ Plu­vic­to. The Big Phar­ma is mov­ing in on Point as it an­tic­i­pates late-stage clin­i­cal da­ta in the near term, with two ra­di­oli­gand can­cer ther­a­pies in Phase III de­vel­op­ment.

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