Key TakeawaysEli Lilly said it would buy Morphic for roughly $3.2 billion or $57 per share, a nearly 80% premium to Friday's closing price.Morphic is developing a treatment for inflammatory bowel disease.The deal is expected to close in the third quarter of 2024. Eli Lilly (LLY) agreed to buy biopharmaceutical firm Morphic (MORF) at a significant premium, sending shares of Morphic skyrocketing Monday. Eli Lilly said it will pay roughly $3.2 billion for the acquisition, or $57 per share, nearly 80% higher th ...