Lilly Receives NRC Consent In Connection With Proposed Acquisition Of POINT Biopharma

(RTTNews) - Eli Lilly and Co. (LLY) said that the U.S. Nuclear Regulatory Commission or "NRC" has issued its consent for the indirect transfer of control of POINT Biopharma Global Inc.'s (PNT) radioactive materials license, which will occur following the completion of Lilly's tender offer to acquire all of the issued and outstanding shares of common stock of POINT, for a purchase price of $12.50 per share in cash.

Obtaining the NRC Consent is the last regulatory approval necessary for the consummation of the transaction.

The tender offer is scheduled to expire on November 16, 2023.

In October, Eli Lilly agreed to acquire POINT Biopharma Global for around $1.4 billion.