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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No big buyouts were revealed during the annual J.P. Morgan Healthcare Conference for a third year in a row. Big pharma firms are in acquisition mode, but execs stress desire for easy integrations and scientific alliances.
Building on its Loxo Oncology unit, Lilly teams with Foghorn to target cancers caused by BRG1 mutations, about 5% of all tumors, including 10% of NSCLC patients. Merck & Co. teamed up with Foghorn in 2020.
Oncology leader Anne White will oversee neuroscience and pain, while Bio-Medicines head Ilya Yuffa will take over for retiring Lilly International president; Loxo CEO will oversee entire oncology business.