Eli Lilly makes $8b bet on drugs for rare cancers with Loxo Oncology buy

Eli Lilly makes $8b bet on drugs for rare cancers with Loxo Oncology buy

Eli Lilly said on Monday it will buy Loxo Oncology Inc for $8 billion, an expensive bet on a pipeline of cancer drugs that target rare genetic mutations and the biggest acquisition in the drugmaker’s 143-year history.

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