Eli Lilly and Company announces leadership changes and acquisition updates

USA—Eli Lilly and Company has announced that Marschall S. Runge, M.D., Ph.D., will retire as an independent director on Lilly’s board of directors, effective August 31, 2024.

 Dr. Runge has been a valued member of Lilly’s board since 2013, where he served on both the Science and Technology Committee and the Ethics and Compliance Committee.

Dr. Runge’s extensive experience as a physician and scientist at Lilly has marked his tenure, as has his deep expertise in healthcare systems, biomedical research, clinical trial design, and patient safety.

His practical experience as a principal investigator has given Lilly a research-driven perspective, particularly in the areas of diabetes and obesity treatments.

Dr. Runge is the CEO of Michigan Medicine, executive vice president for medical affairs at the University of Michigan, and dean of the Medical School.

He plans to retire from these roles on June 30, 2025, but will continue to contribute as a professor at the Medical School, focusing on healthcare and education and pursuing his passion for writing.

In response to Dr. Runge’s retirement, David A. Ricks, Lilly’s chair and CEO, expressed gratitude for Dr. Runge’s decade of invaluable service.

Ricks highlighted Dr. Runge’s contributions to Lilly’s efforts to bring innovative medicines to people worldwide, praising his expertise in science and medical affairs and his patient-centric approach.

Ricks wished Dr. Runge well in his future endeavors to advance healthcare and education.

Lilly completes Morphic acquisition

In addition to announcing Dr. Runge’s retirement, Eli Lilly has also revealed the successful completion of its acquisition of Morphic Holding, Inc.

Morphic, known for its development of oral integrin therapies aimed at treating serious chronic diseases, has been acquired through Lilly’s tender offer.

Lilly’s offer to purchase all outstanding shares of Morphic was priced at US$57 per share in cash, subject to any applicable tax withholding.

Following this acquisition, Morphic’s common stock will be delisted from The Nasdaq Global Market.

Daniel Skovronsky, M.D., Ph.D., chief scientific officer of Lilly and president of Lilly Research Laboratories and Lilly Immunology, commented on the acquisition, stating that it enhances Lilly’s growing capabilities in gastroenterology.

This development builds on the foundation established by Omvoh, Lilly’s first-in-class molecule approved for ulcerative colitis and currently under regulatory review for Crohn’s disease.

Skovronsky emphasized that the acquisition will enable Lilly to explore potential combination treatments, which could offer enhanced therapeutic options beyond the currently available medicines.

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