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$1.6bn ARMO Buy Gives Lilly Its Most Advanced Immuno-Oncology Asset

 
• By Mandy Jackson

Eli Lilly & Co. did not rush into the immuno-oncology game like its big pharma peers, but the acquisition of newly public ARMO gives the company its most advanced IO asset via external innovation – an increased focus for Lilly's portfolio.

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Eli Lilly & Co. is behind its big pharma peers in terms of investments in immuno-oncology, although cancer drugs already are an important part of its portfolio, but now it's catching up with the IO fervor via the $1.6bn acquisition of Armo BioSciences Inc.

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