Big pharmaceutical company Eli Lilly announced Tuesday that it has agreed to acquire Dice, a specialty company focused on producing oral treatments for autoimmune diseases. The $2.4 billion offer represents a generous 40% premium to Dice's share price before the proposal was announced.

Biopharmaceutical company Dice uses its proprietary technology platform to develop novel oral therapeutic drugs for autoimmune diseases. The main development program is focused on IL-17, an immune substance involved in a number of inflammatory diseases. Dice projects that the market for injectable IL-17 drugs used in the treatment of psoriasis will exceed $7 billion by 2026.

Founded in 1876, Eli Lilly is a renowned multinational pharmaceutical corporation headquartered in Indianapolis, Indiana. In 2022, Eli Lilly employed 39,000 people worldwide and had annual sales of $28.5 billion. The company supplies medicines to 110 countries, establishing itself as one of the largest pharmaceutical companies in the world. Eli Lilly operates its primary research and development facilities in 7 countries and conducts clinical trials in more than 50 countries. One of the company's greatest achievements is the development of the highly acclaimed antidepressant Prozac.

Big pharmaceutical companies are actively seeking biotech companies that specialize in immune therapies. For example, Merck, whose patent on Keytruda is about to expire, bought Prometheus Biosciences in April, offering a premium of 75% over the company's value. The healthcare sector in general is experiencing a surge in transactions. In the first five months of this year alone, a staggering $85 billion was spent on acquisitions in this sector.