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A strong performance from Mounjaro overseas boosted Lilly’s results, and the company raised its guidance for the year for both profit and revenue.

The biotech will use the proceeds to develop inhalable versions of therapies already on the market for the “idiopathic” and “progressive” forms of pulmonary fibrosis.

A Jefferies analyst argued the deal — Teva’s largest in a decade — “makes sense” given the synergies between Emalex and the pharmaceutical giant’s neurology business.