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Lift-Off For Lilly In Cancer Genetics With Loxo Buy

 
• By Kevin Grogan

The New Year is just a week old but the biopharma merger and acquisitions merry-go-round is already spinning furiously as Lilly now steps in with a proposal to buy Loxo.

Merry-go-round
Hold on tight: Biopharma M&A merry-go-round is spinning again • Source: Shutterstock

A second major pharma-biotech merger plan has landed in the space of a few days, following on from the proposed $74bn acquisition of Celgene Corp. by Bristol-Myers Squibb Co., with Eli Lilly & Co. agreeing to pay $8bn to buy the closely watched tumor agnostic specialist Loxo Oncology Inc.

Lilly is paying a whopping $235 per share in cash to get hold of Loxo, which represents a premium of...

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