Eli Lilly Expands Focus on Cancer Treatments with Loxo Oncology Acquisition
New England Council member Eli Lilly announced this week that it would purchase the pharmaceutical company Loxo Oncology, based in Stamford, CT. This acquisition will allow Eli Lilly to expand its portfolio of treatments to include cancer drugs that target rare forms of the disease.
While Eli Lilly has been known for specializing in treatments for diabetes, in recent years the organization has sought to expand into oncology. This purchase is a major step towards that goal, as Loxo Oncology has been a pioneer in scientific innovation. It has played a key role in the development of precision medicine that targets genomically defined cancers, and Eli Lilly remains committed to continuing that essential work.
The President of Lilly Oncology, Anne White, said, “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.”
The New England Council commends Eli Lilly for its success and for its continued efforts in the development of critical cancer treatments.