Eli Lilly's Shopping Spree Won't Stop With Dermira, CFO Shares Plans For More Deals In 2020
Merger & acquisition activity at the 2020 J.P. Morgan Healthcare Conference has been a little disappointing, but not for a lack of effort on the part of Eli Lilly (NYSE: LLY). The big pharma went beyond the call of duty by announcing the $1.1 billion acquisition of Dermira (NASDAQ: DERM) last week, and more recently its CFO John Smiley told investors to expect more deals this year.
The midwest's largest pharmaceutical company hasn't shared any specific details, but it's clear the company will get even larger in 2020. Smiley told Reuters to look for a new deal announcement in each quarter this year in the $1 billion and $5 billion range.
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Source Fool.com