Loxo Oncology (LOXO) chief executive Dr. Joshua Bilenker negotiated the $8 billion sale of his company to Eli Lilly (LLY) in little more than two weeks, and did not approach any other suitors or engage in a bidding war.
According to a new filing with the Securities and Exchange Commission, Loxo believed that its most valuable asset was not its approved medicine, Vitrakvi, but an experimental one, the RET inhibitor LOXO-292.
Last April, it reached out to 15 biopharmaceutical companies. When the data were presented in June, five were interested. But Lilly, one of those five, dropped out of the running; it didn’t like the terms. Discussions with the other four continued. The filing describes general discussions with Goldman Sachs about the path forward for Loxo, but there seems to have been no specific intent to seek a sale.
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Thanks for making your insonin so i can live.however it is so expensive it is a hardship. Their have been times i did not have money and had to be in hospital wondering if i would live. Now still stressed every month if i will be able to buy my insulin. it sucks to be at the mercy of big pharma.