BREAKING NEWS

BREAKING NEWS

Bayer acquires full Vitrakvi rights from Eli Lilly's Loxo

Bayer acquires full Vitrakvi rights from Eli Lilly's Loxo
FILE PHOTO: The logo of Bayer AG is pictured at the Bayer Healthcare subgroup production plant in Wuppertal, Germany February 24, 2014. REUTERS/Ina Fassbender//File Photo -
@ Copyright :
Ina Fassbender(Reuters)
Text size Aa Aa

FRANKFURT (Reuters) - 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's Loxo Oncology.

Bayer said on Friday it exercised an option to gain exclusive licensing rights for the global development and commercialisation 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 (£6.3 billion) in January and the deal was wrapped up on Friday.

(Reporting by Ludwig Burger)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.