Eli Lilly extends tender offer to buy Point Biopharma to Dec. 15


An Eli Lilly and Company pharmaceutical manufacturing plant in Branchburg, New Jersey, U.S.

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File Photo Acquire Licensing Rights

Dec 4 (Reuters) – Eli Lilly (LLY.N), on Monday, gave Point Biopharma Global (PNT.O) shareholders more time to sell their stock to the drugmaker amid low participation since the offer price was below the current stock price of the radiopharma developer.

Eli Lilly’s new deadline is Dec. 15 but maintained its offer price at $12.50 per share despite it being more than 10% lower than Point’s share price of $13.8 at close on Friday.

Reporting by Mariam Sunny in Bengaluru; Editing by Shilpi Majumdar

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