Lilly bolstering cancer efforts with $8bn Loxo Oncology buy

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Eli Lilly is making its largest transaction in a series intended to broaden its cancer treatment efforts after announcing its intentions to acquire US biopharma Loxo Oncology for $8 billion.

Loxo Oncology is developing a pipeline of targeted medicines focused on cancers that are uniquely dependent on single gene abnormalities that can be detected by genomic testing.

For patients with cancers that harbour these genomic alterations, a targeted medicine could have the potential to treat the cancer with dramatic effect.

“Using tailored medicines to target key tumour dependencies offers an increasingly robust approach to cancer treatment,” said Daniel Skovronsky, Lilly’s Chief Scientific Officer and President of Lilly Research Laboratories.

“Loxo Oncology’s portfolio of RET, BTK and TRK inhibitors targeted specifically to patients with mutations or fusions in these genes, in combination with advanced diagnostics that allow us to know exactly which patients may benefit, creates new opportunities to improve the lives of people with advanced cancer.”