FDAnews Drug Daily Bulletin
Pharmaceuticals / Regulatory Affairs

Lilly Announces $8 Billion Acquisition of Loxo Oncology

Jan. 15, 2019
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Eli Lilly announced plans to purchase drug developer Loxo Oncology for $8 billion in cash.

Lilly noted that Loxo could launch a drug in 2020 targeting an abnormality occurring in several tumor types relating to thyroid and lung cancers.

Projected to close by the end of the first quarter of 2019, the deal comes shortly after Bristol-Myers Squibb announced its acquisition of Celgene, also an oncology drug producer.

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