Eli Lilly recently acquired Adverum Biotechnologies, gaining access to Ixo-vec, a promising gene therapy for wet age-related macular degeneration (wAMD). This low-risk deal, valued between $74.8 million and $262 million, could offer significant returns if Ixo-vec successfully disrupts the $9 billion global wAMD market. Despite the potential, Eli Lilly's current valuation leads to a 'hold' rating, pending further financial results and pipeline advancements. The acquisition highlights the pharmaceutical giant's strategic focus on innovative, high-impact therapies.