(Reuters) – Eli Lilly and Co said on Monday it would buy Loxo Oncology Inc for about $8 billion in cash, buying into a portfolio of targeted medicines to treat cancers caused by rare gene mutations.
The offer of $235 per share in cash represents a premium of about 68 percent to Loxo’s Friday close. Loxo’s shares surged 32.8 percent to $185.70 in light trading before the bell, while those of Lilly dropped 2.7 percent to $111.60.
Year - US - Loxo
Last year, U.S. regulators approved Loxo’s first commercial...