Eli Lilly and Co aims to announce roughly one $1 billion to $5 billion deal ever...
) aims to announce roughly one $1 billion to $5 billion deal every quarter in 2020, its chief financial officer told Reuters, as the U.S. drugmaker looks to build up its pipeline of future products.
Eli Lilly has been on a deal-making spree in recent years in a bid to increase products and sales in core franchises as older blockbuster medicines, such as diabetes treatment Humalog, face generic competition and pressure to lower prices. In 2018 and 2019, it announced several deals for cancer companies, including an $8 billion acquisition of Loxo Oncology. U.S. regulators in 2018 approved Vitrakvi, Loxo’s first commercial medicine, which treats a wide variety of cancers triggered by a rare genetic mutation.
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