WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Loxo Oncology, Inc. (“LOXO” or the “Company”) (NASDAQ: LOXO) in connection with the proposed acquisition of the Company by Eli Lilly Company (NYSE: LLY) (“LLY”). "Lilly Oncology is committed to developing innovative, breakthrough medicines that will make a meaningful difference for people with cancer and help them live longer, healthier lives," said Anne White, president of Lilly Oncology. Lilly’s $8bn deal to buy Loxo Oncology brings the total committed so far to more than $80bn, following last week’s megamerger of Bristol-Myers Squibb and Celgene. The acquisition broadens the scope of Lilly’s oncology portfolio into precision medicines through the addition of a pipeline of highly selective potential medicines for patients with genomically defined cancers. When Loxo Oncology didn't include the year's largest investor conference in its previously active event calendar, we probably should have expected an acquisition announcement. Loxo Oncology Cautionary Statement Regarding Forward-Looking Statements. Loxo rapidly grew in value since going public in 2014, from a company worth approximately $200 million to this $8 billion deal. Eli Lilly and Company Feb 15, 2019, 09:23 ET. Lilly Completes Acquisition of Loxo Oncology. INDIANAPOLIS, Feb. 15, 2019 /PRNewswire/ -- Eli Lilly and Company (NYSE:LLY) today announced the successful completion of its acquisition of Loxo Oncology, Inc. (NASDAQ:LOXO).The acquisition broadens the scope of Lilly's oncology portfolio into precision medicines through the addition of a pipeline of highly selective potential medicines for patients with genomically defined cancers.
Loxo Oncology was incorporated in Delaware in May 2013 and was founded by Josh Bilenker, M.D., a partner at Aisling Capital.
Eli Lilly's $8 billion buyout of biotech Loxo Oncology was the largest acquisition in the Indianapolis-based pharma's 143-year history. Eli Lilly & Co.'s about $8 billion acquisition of biotech Loxo Oncology could mean a $470 million payday for venture-capital firm Aisling Capital.
WhatsApp in its $19 billion acquisition by Facebook – one of the largest private technology acquisitions ever; Symantec’s $10.7 billion divestiture of its Enterprise Security business to Broadcom; Concur Technologies in its $8.3 billion acquisition by SAP; Loxo Oncology in its $8 billion sale to Eli Lilly; GitHub in its $7.5 billion acquisition by Microsoft Corporation Shares of Loxo Onocology Inc. loxo were indicated up about 33% in premarket trade Monday, after the biopharmaceutical company agreed to be acquired by Eli Lilly & Co. LLY, … Loxo Oncology is committed to bringing targeted cancer therapies rapidly into the clinic that have an opportunity for outsized clinical effects in genetically defined patient populations. The FDA approved Retevmo, or selpercatinib, as … The unit has team members in Boulder, CO, Indianapolis, IN, New York City, … Additionally, a Loxo Oncology shareholder, beneficially owning approximately 6.6 percent of Loxo Oncology’s outstanding common stock, has agreed to … The acquisition of the biotechnology firm Loxo Oncology by pharma giant Eli Lilly & Co., announced at the year's biggest healthcare conference, started 2019 … If the first seven days are any indication, 2019 could represent a turning point in biopharma M&A. Dive Brief: Eli Lilly will buy Loxo Oncology for roughly $8 billion, announcing a cash tender offer Monday that would pay a 68% premium on the start-up's shares and make the Indianapolis-based drugmaker the latest big pharma to strike a significant, cancer-focused deal. WEISSLAW LLP: Loxo Oncology, Inc. Acquisition May Not Be In The Best Interests of LOXO Shareholders WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Loxo Oncology, Inc. (“LOXO” or the “Company”) (NASDAQ: LOXO) in connection with the proposed acquisition of the Company by Eli Lilly Company (NYSE: LLY) (“LLY”).
New study results for a cancer therapy acquired in that deal suggest Loxo was worth the price. Lilly Announces Agreement To Acquire Loxo Oncology o Acquisition will broaden the scope of Lilly’s oncology portfolio into precision medicines through the addition of … Our team members choose to be part of Loxo Oncology because we share this passion and believe in our values.
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