INDIANAPOLIS -- Eli Lilly is buying a Massachusetts-based company for nearly $1 billion, the company announced Wednesday.
Eli Lilly is buying CoLucid for $46.50 per share, which is about $960 million.
The all-cash transaction will be done to help Eli Lilly's portfolio in pain management, CoLucid's speciality.
The transaction is expected to close by the end of the first quarter of 2017, subject to clearance under antitrust acts.
