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[$$] Big Pharma’s Cancer Race

Eli Lilly’s bid for Loxo Oncology, which follows a flurry of biotech deals, shows how the pharmaceutical landscape is fast-evolving as U.S. drug companies compete to become leaders in oncology. Indianapolis-based Eli Lilly on Monday announced plans to purchase the Stamford, Conn., start-up Loxo for $8 billion with the goal of expanding its oncology portfolio. Loxo has pioneered an experimental therapy targeting single-gene abnormalities that can cause tumors throughout the body.