Hotline: 1800 102 2007
Hotline: 1800 102 2007
Jan, 10 2019

Eli Lilly to acquire Loxo Oncology for $8 billion

Eli Lilly and Co will acquire Loxo Oncology Inc for about $8 billion in cash.

Eli Lilly to acquire Loxo Oncology for $8 billion

Eli Lilly and Co will acquire Loxo Oncology Inc for about $8 billion in cash, making its biggest bet on a cancer therapy market expected to be worth several billions of dollars.

The cash deal comes on the heels of Bristol-Myers Squibb Co's agreement last week to buy Celgene Corp for $74 billion, and gives Lilly access to Loxo's portfolio of targeted medicines which treat cancers caused by rare gene mutations.

Anne White, President of Lilly Oncology, said, "We believe that Lilly will bring a great deal of strength to this partnership in addition to what Loxo has already done."

"The acquisition represents an exciting and immediate opportunity to expand the breadth of our portfolio into precision medicines and target cancers that are caused by specific gene abnormalities, and that the ability to target tumour dependencies in these populations is a key part of our strategy," she added.

David Ricks, Lilly's Chief Executive, stated, "We'd like to grow our presence in oncology. We have a good set of medicines there but we'd like to expand that because there's so much exciting science for patients emerging in oncology to invest in." 

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • About Us: Gem Selections is a trusted & reliable provider of..
    Locations looking for expansion Delhi
    Establishment year 1987
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 80
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi Delhi
  • Others Food Service
    ABOUT Us: Chicken Adda is best described as indescribable. Sometimes it's..
    Locations looking for expansion Madhya Pradesh
    Establishment year 2015
    Franchising Launch Date 2016
    Investment size Rs. 5lac - 10lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Indore Madhya Pradesh
  • Healthcare Products
            Deals with different brands for healthcare nutrition..
    Locations looking for expansion Haryana
    Establishment year 2004
    Franchising Launch Date 2020
    Investment size Rs. 10lac - 20lac
    Space required 240
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Women's Clothing
    About Us: Fashor is a fast growing affordable fashion brand for..
    Locations looking for expansion Tamil nadu
    Establishment year 2010
    Franchising Launch Date 2020
    Investment size Rs. 30lac - 50lac
    Space required 700
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chennai Tamil nadu
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities