Bayer gains full Vitrakvi rights from Eli Lilly's Loxo [Reuters]
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Source: Reuters
Bayer gains full Vitrakvi rights from Eli Lilly's Loxo | Reuters 3 Min Read FRANKFURT (Reuters) - German drugmaker Bayer took full control of Vitrakvi, a drug used against a variety of cancers driven by a rare genetic mutation, in a deal with from Eli Lilly’s Loxo Oncology. Bayer said on Friday it exercised a right to gain exclusive licensing rights for the global development and commercialization of Vitrakvi, also known as larotrectinib, under a clause in the initial collaboration deal with Loxo Oncology that provided for Loxo becoming a takeover target. Eli Lilly agreed to buy Loxo for $8 billion in January and the deal was wrapped up on Friday. Bayer has been called on by analysts and investors to strengthen its drug development pipeline as its pharmaceuticals division faces falling sales from 2024 amid looming competition for its two bestselling drugs. Bayer clinched the initial Vitrakvi deal in November 2017, about a year before the drug eventually won U.S. regulatory approval, m
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