Top Health News Briefs: Major Acquisitions and Legal Battles

In recent health news, Eli Lilly will acquire Morphic Holding for $3.2 billion to expand their bowel disease treatment portfolio. Furthermore, Grifols aims to delist with the aid of Brookfield. South Korea retracts the suspension plan for striking doctors. Thermo Fisher's acquisition of Olink gets clearance, while Abbott prepares for a trial involving its preterm infant formula.

Eli Lilly is set to acquire Morphic Holding for $3.2 billion, granting the U.S. drugmaker access to a promising experimental drug for inflammatory bowel diseases. Morphic's shares soared 76% to $56.15 per share in premarket trading.

Grifols and Brookfield are planning a joint takeover bid to delist the Spanish drugmaker. Grifols' board reviewed the preliminary offer from Brookfield and its founding family, who owns nearly 30% of the company.

In South Korea, the government has abandoned a controversial plan to suspend licenses of striking trainee doctors after months of walkouts triggered by policy changes to medical school admissions. Hospitals faced significant service disruptions as a result.

The UK's competition regulator has greenlit Thermo Fisher Scientific's $3.1 billion acquisition of Swedish biotech firm Olink Holding AB.

Abbott faces a trial over allegations that its Similac baby formula for preterm infants causes necrotizing enterocolitis, a dangerous bowel disease. The trial, involving Illinois resident Margo Gill, is the second of hundreds of similar lawsuits in the U.S.

(With inputs from agencies.)