Eli Lilly to buy Ventyx Biosciences in $1.2 billion deal

Core Insights - Eli Lilly is acquiring Ventyx Biosciences for $1.2 billion in an all-cash transaction, indicating a strategic move to diversify its portfolio beyond its successful diabetes and weight loss drugs [1] Company Summary - The acquisition of Ventyx Biosciences represents Eli Lilly's latest effort to expand its business operations and product offerings [1] - This deal highlights Eli Lilly's commitment to growth through strategic acquisitions in the biotechnology sector [1] Industry Summary - The transaction underscores the ongoing trend of consolidation within the biotechnology industry as companies seek to enhance their research and development capabilities [1] - Eli Lilly's investment reflects the increasing competition in the pharmaceutical market, particularly in the areas of diabetes and weight management treatments [1]