Eli Lilly inks $2.4B cash deal to buy DICE and its immunology pipeline

Eli Lilly is joining the “blistering” pace of M&A this year as it bets $2.4 billion in cash on DICE Therapeutics, a publicly traded biotech with oral IL-17 inhibitors in the clinic. Lilly expects to pay $48.00 per share of DICE stock at a 40% 30-day premium, with the deal set to close in the third quarter.