Indianapolis, Indiana-based Lilly’s oncology portfolio includes lung cancer drug Alimta, Erbitux, a treatment for certain types of colorectal cancers and gastric cancer medicine Cyramza. Photo: APEli Lilly and Co said on Monday it would buy 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 deal follows Bristol-Myers Squibb Co agreement last week to buy Celgene Corp for $74 billion, and gives Lilly access to Loxo’s portfolio of targeted medicines that treat cancers caused by rare gene mutations. The portfolio is centered around the company’s first commercial medicine, Vitrakvi, which is sold in partnership with Bayer AG. Indianapolis, Indiana-based Lilly’s oncology portfolio includes lung cancer drug Alimta, Erbitux, a treatment for certain types of colorectal cancers and gastric cancer medicine Cyramza.

Source: Mint January 07, 2019 14:37 UTC