Lilly shells out $1.4 billion for radioligand company

Shares US radiopharmaceuticals firm POINT Biopharma Global (Nasdaq: PNT) shot up 84% to $12.31 in pre-market activity, on the news of a takeover bid from Eli Lilly (NYSE: LLY), marking the fourth acquisition for the US pharma major this year.

The company's acquisitions this year include the $2.4 billion buyout of Dice Therapeutics, the $1.93 billion purchase of privately held Versanis, and Siglon for around $310 million.

Radioligand therapy can enable the precise targeting of cancer by linking a radioisotope to a targeting molecule that delivers radiation directly to cancer cells, enabling significant anti-tumor efficacy while limiting the impact to healthy tissue. Radioligand therapy can enable the precise targeting of cancer by linking a radioisotope to a targeting molecule that delivers radiation directly to cancer cells, enabling significant anti-tumor efficacy while limiting the impact to healthy tissue.