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Indianapolis-based pharmaceutical giant Eli Lilly announced this week its plans to acquire biopharmaceutical firm Loxo Oncology for an agreed rate of US$235 per share, for a total amount of $8bn. Loxo Oncology, which is headquartered in Stamford, Connecticut, engages in the development and commercialization of specialized medicines for the treatment of genomically defined cancers.

The deal will be Eli Lilly’s biggest acquisition of an oncology portfolio, and also the second-largest pharmaceutical acquisition of 2019, after the purchase of Celgene by Bristol-Myers last week.

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The acquisition will further broaden Eli Lilly’s oncology portfolio with the addition of Loxo’s marketed therapy and a pipeline of potential medicines. Loxo’s portfolio includes:

Josh Bilenker, M.D., chief executive officer of Loxo Oncology said in a press release: “We are gratified that Lilly has recognized our contributions to the field of precision medicine and are excited to see our pipeline benefit from the resources and global reach of the Lilly organization.”

Indianapolis-based pharmaceutical giant Eli Lilly announced this week its plans to acquire biopharmaceutical firm Loxo Oncology for an agreed rate of US$235 per share, for a total amount of $8bn. Loxo Oncology, which is headquartered in Stamford, Connecticut, engages in the development and commercialization of specialized medicines for the treatment of genomically defined cancers.

The deal will be Eli Lilly’s biggest acquisition of an oncology portfolio, and also the second-largest pharmaceutical acquisition of 2019, after the purchase of Celgene by Bristol-Myers last week.

SEE ALSO: 

The acquisition will further broaden Eli Lilly’s oncology portfolio with the addition of Loxo’s marketed therapy and a pipeline of potential medicines. Loxo’s portfolio includes:

Josh Bilenker, M.D., chief executive officer of Loxo Oncology said in a press release: “We are gratified that Lilly has recognized our contributions to the field of precision medicine and are excited to see our pipeline benefit from the resources and global reach of the Lilly organization.”

Source

https://www.businesschief.com/finance/7645/Untitled-Web-Post

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