Lilly/Loxo Deal Came Together Quickly
Lilly's $8bn acquisition of genetics-based cancer specialist Loxo Oncology didn't involve any other bidders and was finalized in just days over the holidays as Lilly sought to make a news splash at the J.P. Morgan Healthcare conference, according to an SEC filing.
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Lilly hopes to bring Loxo’s tissue-agnostic RET inhibitor selpercatinib to market in 2020.
CMO Sandra Horning will retire at the end of the year, to be succeeded by Lilly's former senior VP of oncology R&D on 1 October.
When buying Loxo, Lilly highlighted the importance of LOXO-292, a first-in-class oral RET inhibitor, rather than the already-approved Vitrakvi, perhaps knowing that partner Bayer was going to be exercising an option to take full control of the TRK inhibitor.