Jan 6 (Reuters) – Eli Lilly is in advanced talks ​to buy Ventyx Biosciences ‌for more than $1 billion, the Wall Street ‌Journal reported on Tuesday, citing people familiar with the matter.

Shares of Ventyx closed up ⁠5.2% following ‌the report, which said the deal could be ‍announced imminently.

A potential buyout of Ventyx will add drugs for inflammatory ​bowel diseases such as Crohn’s ‌disease and ulcerative colitis to Lilly’s portfolio, along with treatments for conditions like Parkinson’s.

One of Ventyx’s experimental drugs is ⁠currently in mid-stage ​development for the ​treatment of a cardiovascular disease associated with obesity.

Eli Lilly ‍and ⁠Ventyx did not immediately respond to Reuters’ request for ⁠comments.

(Reporting by Puyaan Singh in Bengaluru; ‌Editing by Tasim Zahid ‌and Shilpi Majumdar)