Lilly to bag Loxo Oncology for $8 billion8 Jan 2019
Acquisition will broaden the scope of Lilly's oncology portfolio into precision medicines.
Eli Lilly and Loxo Oncology have announced a definitive agreement for Lilly to acquire Loxo Oncology for $235.00 per share in cash, or approximately $8.0 billion. Loxo Oncology is a biopharmaceutical company focused on the development and commercialization of highly selective medicines for patients with genomically defined cancers.
The acquisition would be the largest and latest in a series of transactions Lilly has conducted to broaden its cancer treatment efforts with externally sourced opportunities for first-in-class and best-in-class therapies. Loxo Oncology is developing a pipeline of targeted medicines focused on cancers that are uniquely dependent on single gene abnormalities that can be detected by genomic testing. For patients with cancers that harbor these genomic alterations, a targeted medicine could have the potential to treat the cancer with dramatic effect.
Loxo Oncology has a promising portfolio of approved and investigational medicines, including
"Using tailored medicines to target key tumour dependencies offers an increasingly robust approach to cancer treatment," said Daniel Skovronsky, Lilly's chief scientific officer and president of Lilly Research Laboratories. "Loxo Oncology's portfolio of RET, BTK and TRK inhibitors targeted specifically to patients with mutations or fusions in these genes, in combination with advanced diagnostics that allow us to know exactly which patients may benefit, creates new opportunities to improve the lives of people with advanced cancer."
"We are gratified that Lilly has recognized our contributions to the field of precision medicine and are excited to see our pipeline benefit from the resources and global reach of the Lilly organization," said Josh Bilenker, CEO of Loxo Oncology. "Tumour genomic profiling is becoming standard-of-care, and it will be critical to continue innovating against new targets, while anticipating mechanisms of resistance to available therapies, so that patients with advanced cancer have the chance to live longer and better lives."
"Lilly Oncology is committed to developing innovative, breakthrough medicines that will make a meaningful difference for people with cancer and help them live longer, healthier lives," said Anne White, president of Lilly Oncology. "The acquisition of Loxo Oncology 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. The ability to target tumor dependencies in these populations is a key part of our Lilly Oncology strategy. We look forward to continuing to advance the pioneering scientific innovation begun by Loxo Oncology."
"We are excited to have reached this agreement with a team that shares our commitment to ensuring that emerging translational science reaches patients in need," said Jacob Van Naarden, chief operating officer of Loxo Oncology. "We are confident that the work we have started, which includes an FDA approved drug, and a pipeline spanning from Phase II to discovery, will continue to thrive in Lilly's hands."
HALIX starts operational production with new cGMP facility in Q4-2019
15 Aug 2019
The five-level production facility contains a state-of-the-art manufacturing line for viral vaccines and viral vectors and a separate protein manufacturing area with a capacity up to 1,000-L single-use bioreactors.Read more
Delivering complete aseptic vial handling solutions
14 Aug 2019
Bringing freeze drying and vial washing/sterilizing technologies together with advanced and comprehensive vial and syringe filling capabilities.Read more
Hikma expands nasal spray capabilities
12 Aug 2019
Company acquires unit-dose nasal and sublingual spray manufacturing equipment, as well as two pipeline products.Read more
How real-world data can revolutionise drug development
9 Aug 2019
Utilising the current data environment and its data pools for the benefit of advancing research.Read more
Sartorius launches new services for mammalian cell bank manufacturing
8 Aug 2019
Integrated package of new and established services saves time and minimizes risks.Read more
Using mobile phones to fight Alzheimer’s disease
8 Aug 2019
Researchers study how radiofrequency electromagnetic fields could be used in Alzheimer’s disease therapy.Read more
Cambrex to be acquired by the Permira funds
7 Aug 2019
The CDMO's shareholders will receive $60.00 per share in cash.Read more
Automation-compatible prepared culture media plate technology
6 Aug 2019
Thermo Fisher Scientific's SmartPlate format brings together Oxoid and Remel prepared culture media with a durable, universal plate design, helping customers to deliver accurate results across both automated and manual methods.Read more
Colorcon to incorporate TruTag's edible 'optical barcodes' in tablet film coatings
6 Aug 2019
The benefits of this innovation include the ability to instantly and unequivocally authenticate products when suspect events.Read more
Growing domestic manufacturing creates new opportunities for international pharma in the Middle East
5 Aug 2019
Opportunities abound at CPhI MEA and experts anticipate regional generic companies acting as CMOs for international companies looking to enter the region.Read more
Are you a supplier
Here's what we can do for you
- Generate quality leads for your business
- Stay visible for 365 days of the year
- Receive product inquiries and respond to meeting requests directly
- Improve company online presence through Search Engine Optimisation