Lilly To Buy Loxo Oncology For About $8 Billion In Cancer Bet

www.oann.com | 5/18/2018 | Staff
(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...
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