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[$$] Eli Lilly to Buy Loxo Oncology in $8 Billion Deal

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 on Friday of $139.87. Shares of Eli Lilly rose 0.4%.