Eli Lilly & Co. said it is buying Loxo Oncology Inc. for $8 billion in cash, a deal that expands the biopharmaceutical company’s oncology-treatment portfolio and adds to a string of recent deals in the cancer-treatment space. Lilly, based in Indianapolis, will pay $235 a share, a 68% premium to Loxo’s closing price of Friday at $139.87. The $8 billion deal valuation includes the company’s shares outstanding as well as stock options.

Source: Wall Street Journal January 07, 2019 12:04 UTC