 Eli Lilly will purchase biopharmaceutical company Morphic Holding for $3.2 billion. The sale is expected to be completed in the third quarter. Morphic is leading the way in developing treatment for serious chronic diseases, including ulcerative colitis and Crohn's disease. The S&P 500 and NASDAQ close at all-time highs. The S&P 500 finishing up six points, the NASDAQ finishing up 51, and the Dow Jones down 31.