Eli Lilly and Company LLY announced the acquisition of a private biotech company, Protomer Technologies. Protomer is engaged in identifying and synthesizing molecules that can sense glucose or other endogenous modulators of protein activity using its own proprietary peptide- and protein-engineering platform.Lilly already holds a 14% ownership stake in Protomer and intends to acquire the remaining interest for a potential sum of more than $1 billion, which also includes milestone payments.Shares of Lilly have rallied 39.9% so far this year in comparison with the industry’s 10.6% surge.Image Source: Zacks Investment ResearchLilly has a strong portfolio of diabetes medication, which includes drugs such as Trulicity, Jardiance and Basalgar. Meanwhile, Protomer is developing glucose-sensing insulins, based on its proprietary molecular engineering of protein sensors platform, which has the potential of improving both therapeutic efficacy and safety of insulin therapy. These glucose-responsive insulins can sense sugar levels in the blood and activate it as needed throughout the day.The combination of Protomer’s proprietary platform with Lilly’s strong diabetes portfolio will help Lilly to further expand and strengthen its diabetes pipeline.JDRF T1D Fund is another investor in Protomer that led the equity investment alongside Lilly. It is a global venture philanthropy fund investing in type 1 diabetes therapies using catalytic equity investments.Zacks Rank & Stocks to ConsiderLilly currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks in the drug/large cap sector include Corcept Therapeutics CORT, Catalent CTLT and Roche RHHBY. While Catalent holds a Zacks Rank #1 (Strong Buy), both Corcept and Roche currently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Catalent’s earnings estimates for 2021 have increased from $2.93 to $2.94 per share in the past 30 days while that of 2022 has risen from $3.28 to $3.49 over the same period. The stock has risen 6.8% in the year so far.Corcept’s earnings estimates for 2021 have increased from $0.78 to $0.80 per share in the past 30 days while that of 2022 has risen from $0.98 to $1.01 over the same period.Roche’s earnings estimates for 2021 have increased from $2.70 to $2.72 per share in the past 30 days while that of 2022 has risen from $2.74 to $2.76 over the same period. The stock has risen 10.5% in the year so far.Eli Lilly and Company Price Eli Lilly and Company price | Eli Lilly and Company Quote Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roche Holding AG (RHHBY): Free Stock Analysis Report Eli Lilly and Company (LLY): Free Stock Analysis Report Corcept Therapeutics Incorporated (CORT): Free Stock Analysis Report Catalent, Inc. (CTLT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research