Eli Lilly Had Good Reason To Spend $1.6B On Armo [Seeking Alpha]
ARMO BIOSCIENCES (ARMO)
US:NASDAQ Investor Relations:
armobio.com
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Source: Seeking Alpha
Eli Lilly Had Good Reason To Spend $1.6B On ArmoSummaryLast week Eli Lilly (LLY) spent $1.6 billion on to acquire Armo BioSciences (ARMO) at a 66% premium to its previous closing price.While Armo does have a phase 3 asset, pegilodecakin, in its pipeline, I believe a more valuable asset is in Phase I, a combination approach with Merck's (MRK) Keytruda.The successful combination of pegilodecakin with Keytruda could help vastly expand an already blockbuster market for the drug by turning non-responders into responders.
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