Regulators approve Eli Lilly acquisition |
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Mon, 26 Mar 2007 23:09
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WASHINGTON (AP) - Federal antitrust regulators said Monday they have cleared Eli Lilly and Co.'s acquisition of Hypnion Inc., a privately held pharmaceutical research company that focuses on sleep disorders.According to a notice issued by the Federal Trade Commission, the government has completed its investigation of the sale and ended a waiting period on the transaction.Eli Lilly announced the purchase March 5. Terms of the deal were not disclosed.The acquisition gives Lilly 'a broader and more substantive presence' in sleep disorder research, Dr. Steven Paul, a Lilly executive vice president, said in a March 5 prepared statement.Shares of Eli Lilly dropped 10 cents to close at $53.71 on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Eli Lilly buys US neuroscience drug discovery firm Hypnion for undisclosed sum 