Lilly to pay $8bn for Loxo Oncology as cancer M&A soars

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By Mike Turner
07 Jan 2019

Eli Lilly, the US pharmaceuticals company, has agreed to buy Loxo Oncology for around $8bn, as big ticket consolidation in the drug sector continues apace.

Eli Lilly has agreed to pay $235 a share in cash for Loxo, a biopharmaceuticals company that makes medicines for certain types of cancer. The price is a 68% premium to Loxo's closing price on January 4.

Deutsche Bank is advising Eli Lilly, while Goldman Sachs is advising Loxo. 

The ...

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