Eli Lilly and Company (NYSE:LLY) entered into a definitive agreement to acquire remaining majority stake in Ajax Therapeutics, Inc. for $2.3 billion on April 27, 2026. Under the terms of the agreement, Lilly will acquire Ajax and Ajax shareholders could receive up to $2.3 billion in cash, inclusive of an upfront payment and subsequent payments upon the achievement of certain clinical and regulatory milestones.
The transaction is subject to customary closing conditions, including approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Ropes & Gray LLP acted as legal advisor for Eli Lilly and Company. Cooley LLP acted as legal advisor for Ajax Therapeutics, Inc. Kirkland & Ellis LLP acted as legal advisor for Ajax Therapeutics, Inc.
Eli Lilly and Company is one of the world's leading pharmaceutical groups. Net sales break down by therapeutic field as follows:
- endocrinology (74%): products for treating osteoporosis, diabetes, and growth problems;
- oncology (14.4%);
- immunology diseases (8.1%);
- neurology (2.1%): primarily drugs used in treating depression and schizophrenia;
- other (1.4%).
Net sales are distributed geographically as follows: the United States (66.7%), Europe (17.7%), Japan (3.2%), China (3%) and other (9.4%).
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