Biotechnology Pharmaceutical Business News

Lilly to buy Loxo Oncology in $8 billion cancer push

(Reuters) Eli Lilly and Co (LLY.N) said on Monday it would buy Loxo Oncology Inc (LOXO.O) for about $8 billion in cash, making its biggest bet on a cancer therapy market expected to be worth several billions of dollars. The deal follows Bristol-Myers Squibb Co (BMY.N) agreement last week to buy Celgene Corp (CELG.O) for $74 billion, and gives Lilly access to Loxo’s portfolio of targeted medicines that treat cancers
Biotech Company News

Bristol-Myers Squibb to Acquire Celgene

Bristol-Myers bulks up cancer portfolio with $74 billion Celgene deal (Reuters) - Bristol-Myers Squibb Co (BMY.N) said on Thursday it would buy Celgene Corp (CELG.O) for about $74 billion, creating a major pharma company with several blockbuster cancer drugs as competition in the immunotherapy space heats up. Bristol-Myers pioneered immunotherapy with its Yervoy and later Opdivo, but has come under pressure as Merck & Co’s (MRK.N) rival treatment Keytruda moved
Pharmaceutical Business News

Celgene Partners with Prothena Therapeutics in Potential $2B Deal

(BioSpace) Shares of Prothena Corporation plc have shot up more than 18 percent in premarket trading this morning after the company forged a collaboration with pharma giant Celgene to develop new therapies for a broad range of neurodegenerative diseases, including Alzheimer’s and ALS. Celgene will pay Prothena $150 million in upfront money with the promise of future regulatory and commercial milestone payments. According to a filing with the U.S. Securities