Lift-Off For Lilly In Cancer Genetics With Loxo Buy
The New Year is just a week old but the biopharma merger and acquisitions merry-go-round is already spinning furiously as Lilly now steps in with a proposal to buy Loxo.
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Most of Lilly’s 2021 gains will come from its newer products, but sales of COVID-19 treatments added $500m to the company’s 2020 revenue guidance and may total $1bn-$2bn next year.
The collaboration between the Swiss major and Blueprint Medicines, which could be worth up to $1.7bn, should help pralsetinib provide stiff competition to Eli Lilly's RET mutation drug Retevmo.
The company secured FDA approval for selpercatinib in RET-driven NSCLC and thyroid cancer, months ahead of the PDUFA date. Oncology president Anne White talked to Scrip about the launch.