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    • Eli Lilly to acquire...

    Eli Lilly to acquire Loxo Oncology for $8 billion

    Medical Dialogues BureauWritten by Medical Dialogues Bureau Published On 2019-01-08T12:09:13+05:30  |  Updated On 16 Aug 2021 4:26 PM IST

    Washington: -Pharmaceutical giant Eli Lilly will acquire cancer treatment specialist Loxo Oncology in a cash deal valued at around $8 billion, the companies said on Monday.


    The firms "announced a definitive agreement for Lilly to acquire Loxo Oncology for $235.00 per share in cash, or approximately $8.0 billion," a statement said.

    The deal -- which represents a premium of some 68 per cent over Loxo Oncology's closing share price on Friday -- is expected to close by the end of the first quarter, the statement said.

    Read Also: Eli Lilly considers the sale of off-patent drug assets in China


    The announcement is the latest in a series of major pharmaceutical deals: last week, Bristol-Myers Squibb said it would buy biotech firm Celgene in a $74 billion cash-and-stock agreement, creating a rival to the world's largest drug makers.


    Other recent large pharma deals include French company Sanofi's purchase of US haemophilia group Bioverativ for $11.6 billion and Novartis' $8.7 billion acquisition of rare-disease treatment company AveXis.

    Read Also: Eli Lilly buys Rs 736 Crore stake in gene-silencing drug firm Dicerna


    agreementAveXisBioverativBristol-Myers Squibbcancer treatmentCelgeneEli LillyLoxo OncologyNovartisPharmaceutical industryWASHINGTON
    Source : AFP

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    Medical Dialogues Bureau
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      Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

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