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Second big M&A deal of 2019: Lilly to acquire Loxo

Eli Lilly and Co. (NYSE:LLY) has reached an $8 billion agreement to acquire Loxo Oncology Inc. (NASDAQ:LOXO), the pharma's third cancer-focused acquisition in the past year. The deal also comes in the wake of the proposal last week by Bristol-Myers Squibb Co. (NYSE:BMY) to acquire Celgene Corp. (NASDAQ:CELG) for about $74 billion (see "Bristol-Myers' Next Phoenix Act?").

Loxo shareholders will receive $235 per share, a 68%

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