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Beyond weight loss: Eli Lilly plans to acquire privately held Merida Biosciences for up to $2.88 billion in cash, expanding its pipeline into autoimmune and allergic diseases beyond its blockbuster weight-loss and diabetes drugs. Merida’s lead drug, MER511, is in early testing for Graves’ disease and thyroid eye disease, while the company is also developing treatments for food allergies and asthma. The deal is part of Lilly’s more than $20 billion 2026 acquisition spree aimed at diversifying its future drug pipeline. Bloomberg has the full story.
Attacks cause surge: Oil prices surged Monday after U.S. forces struck two Iranian rocket launchers on Larak Island, with Brent rising 3.3% and WTI 3.6%. Iran said it retaliated by attacking U.S. military bases in Jordan, while President Donald Trump escalated threats by warning that Iran’s key oil export terminal at Kharg Island could be targeted. Disruptions to shipping through the Strait of Hormuz and attacks on refineries continue to tighten global energy supplies and raise concerns about further oil-price gains. CNBC has the full story.
Deal to buy Kelvion: SLB agreed to acquire thermal-management company Kelvion for $4.1 billion, aiming to expand its growing data center business and capitalize on rising AI infrastructure demand. Kelvion, which specializes in cooling and heat transfer technology, is expected to generate about $2.4 billion in revenue this year. SLB will pay $3.4 billion in cash and assume about $700 million in debt, and the deal is expected to boost earnings and free cash flow within its first year after closing. The Wall Street Journal has the full story.
