Loxo to become face of new Lilly cancer unit

Eleven years after transforming its cancer operations through the purchase of ImClone, Lilly is following a similar blueprint by making its Loxo acquisition the centerpiece of its oncology R&D strategy.

The $6.5 billion acquisition of ImClone Systems Inc. in 2008 gave Eli Lilly and Co. (NYSE:LLY) a stream of marketed cancer therapies and moved the center of gravity of Lilly's oncology research to ImClone's home base in New York City (see “Pivot to Partnerships”). ...