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)

By Reuters

Published on 15/02/2019 - 16:34•Updated 26/04/2024 - 01:33

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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)

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