Pharma giant Eli Lilly just made an $8 billion bet on a cutting-edge scientific approach that uses DNA to treat cancer (LLY, LOXO)

Drug giant Eli Lilly announced on Monday that it acquiring the cancer-focused biotech Loxo Oncology for about $8 billion. Loxo focuses on gene mutations in treating cancers, which is a unique approach.  The deal is “bigger than what we’ve done before,” Lilly CEO David Ricks said, but “isn’t out of range to do again.”

Pharma giant Eli Lilly & Co. said on Monday it plans to buy the biotech Loxo Oncology for $8 billion

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