World Markets

Bayer acquires full Vitrakvi rights from Eli Lilly's Loxo

Reuters

FRANKFURT, Feb 15 () - German drugmaker Bayer acquired all rights it does not already own in Vitrakvi, a drug against a variety of cancers driven by a rare genetic mutation, from Eli Lilly'sLoxo Oncology.

Bayer said on Friday it exercised an option to gain exclusive licensing rights for the global development and commercialization of Vitrakvi, also known as larotrectinib, under a change-in-control clause in the initial collaboration deal with Loxo Oncology.

Eli Lilly agreed to buy Loxo for $8 billion in January and the deal was wrapped up on Friday.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More