Eli Lilly to acquire Loxo Oncology for about $8 billion

Eli Lilly said on Monday it would buy Loxo Oncology for about $8 billion in cash.

The offer of $235 per share in cash represents a premium of about 68 percent to Loxo's Friday close.

In November, a Loxo drug found to be effective against a wide variety of cancers driven by a single, rare genetic mutation won U.S. approval.

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from Top News & Analysis https://cnb.cx/2TvNVCT