Why Loxo Oncology and Sage Therapeutics Have Occupied Today's Headline News
Eli Lilly (LILY) announced its intention to acquire Loxo Oncology (LOXO) for around $8 billion in cash. The offer translates to around $235 a share, representing a premium of 69%. Loxo Oncology is developing a pipeline of targeted medicines focused on cancers that can be detected by genomic testing. We remind that last week Bristol-Myers announced its intention to buy Celgene at $74 billion.
The . . .