Eli Lilly offered to acquire three vaccine companies for up to $3.8 billion, expanding its infectious disease prevention portfolio beyond its established cardiometabolic franchise. The deals include potential payments of up to $1.55 billion for Vaccine Company Inc., up to $1.5 billion for Curevo, and up to $780 million for LimmaTech Biologics, based on milestones. Lilly positioned the strategy as a shift toward preventing disease at its source. Curevo brings a shingles vaccine candidate using a synthetic adjuvant intended to improve tolerability; LimmaTech develops bacterial infection vaccines; and Vaccine Company focuses on in vivo nanoparticle technologies designed to elicit durable immune responses. The acquisitions come alongside Lilly’s broader dealmaking pace, reinforcing that the company is building vaccine capabilities in areas with large unmet needs and where platform differentiation could translate into manufacturing and immunogenicity advantages. The next step for the deals will be regulatory review and closing timelines.