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incoming update…Eli Lilly to buy gene therapy company Akouos for $487MSymbolPriceChange%ChangeAKUS$13.016.0085.59LLY$332.64-0.12-0.03
Eli Lilly and Company pharmaceutical manufacturing plant, Branchburg, N.J., Mar. 5, 2021. (Reuters/Mike Segar)
Eli Lilly and Co will acquire genetic medicine developer Akouos Inc for about $487 million in cash as the drugmaker aims to bolster its arsenal of gene therapies that target a range of disabilities.
The deal also includes a payment of $3 per share contingent on certain events related to drug trials and has the potential to increase the transaction size to $610 million, the companies said on Tuesday.
Eli Lilly has been striving to build its pipeline of gene therapies, following the acquisition of Prevail Therapeutics Inc for $1 billion last year.
It announced a $700 million investment in a new research hub in Boston, Massachusetts earlier this year that focuses on developing gene therapies.Posted by Reuters ShareSalesforce shares jump on report that Starboard has taken a stakeSalesforce Tower in New York City, N.Y., Mar. 7, 2019. (Reuters/Brendan McDermid)
SymbolPriceChange%ChangeCRM$158.0710.897.40
Starboard Value LP has taken a stake in Salesforce Inc, CNBC reported, citing the activist investment firm’s founder Jeff Smith.
The hedge fund did not disclose the size of the stake in the report.
Starboard did not immediately respond to Reuters request for comment. Salesforce said it is committed to acting in the best interests of shareholders, but declined to comment on the stake.Posted by Reuters ShareBreaking News The nation’s builders remain a pessimistic group as mortgage rates near 7%.
ECONOMYHomebuilder sentiment plunges again in October as higher mortgage rates take their tollBuilder sentiment in the market for single-family homes tumbled in October to the lowest level in two years, indicating the housing market is officially in a recession.
SymbolPriceChange%ChangeTOL$43.091.052.50 LEN$76.892.403.22DHI$72.492.523.60MTG$12.940.171.37Posted by FOX Business Staff ShareBreaking News Dow rockets, Goldman Sachs, Salesforce lead gainsSymbolPriceChange%ChangeGS$306.716.722.24CRM$147.184.963.49
Dow Jones Averages.$30827.94
U.S. stocks rallied for a second straight session, despite recession fears, as investors celebrated more solid earnings from the likes of Goldman Sachs. Salesforce also rose after activist investor Starboard took a stake in the tech giant. The Dow Jones Industrial Average continued its climb above the key 30,000 level. In commodities, oil drifted down to the $84 per barrel level. Posted by FOX Business Staff ShareThe latest in the Twitter-Elon Musk sagaTECHNOLOGYElon Musk tells Dave Portnoy he has plan to address number of Twitter botsElon Musk told Dave Portnoy on Monday he has a plan to address the high number of bots on Twitter. Musk intends to purchase the social media platform.
Twitter Inc. $50.74
Tesla and SpaceX founder Elon Musk said he has a plan to tackle the high number of spam robots or “bots” on Twitter, as he intends to purchase the social media company.Posted by FOX Business Staff SharePOLITICSGovernment data proves corporate greed isnt causing inflation, contrary to Dem claims: economistsData from the Biden administrations shows “corporate greed” is not the main cause of inflation and that companies are sparing customers from some price hikes.
The inflation blame game is raging but a deep dive into the data tells us that U.S. corporations are trying to ease the burden of high costs.Posted by FOX Business Staff Share
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