09:49 AM EST, 02/11/2025 (MT Newswires) -- (Updates with refusal to comment from Eli Lilly ( LLY ) in the fourth paragraph.)

Eli Lilly ( LLY ) is selling bonds to help fund its planned $2.5 billion purchase of a cancer drug from Scorpion Therapeutics, Bloomberg News reported Monday, citing a source with knowledge of the matter.

The company plans to issue bonds in multiple parts, including a 40-year note with a yield expected to be about 1.15 percentage points over Treasuries, according to the report.

The proceeds will primarily be used to acquire Scorpion's STX-478, a PI3Ka inhibitor in early- and mid-stage trials, with any remaining funds to be used for general corporate purposes, Bloomberg reported.

Eli Lilly ( LLY ) declined MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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