Barely days after the largest pharmaceutical merger deal of Bristol-Myers/Celgene, valued at $74 billion, another multibillion-dollar buyout of this year has just been announced - Eli Lilly and Co.'s (LLY) acquisition of Loxo Oncology Inc. (LOXO) for $235.00 per share in cash, or roughly $8.0 billion.
Loxo Oncology is a biopharmaceutical company focused on developing highly selective medicines for patients with genomically defined cancers. The acquisition of Loxo is expected to broaden the scope of Lilly's oncology portfolio.
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