Lilly to pay $8B for cancer drugmaker Loxo Oncology

Eli Lilly is spending about $ 8 billion in cash to buy Loxo Oncology, as the drugmaker bulks up on cancer treatments that target certain gene abnormalities. Loxo Oncology could launch a drug next year and targets an abnormality that occurs in several tumor types, including some lung and thyroid cancers, Lilly said in a prepared…
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