Keyword: Bayer

Exiting animal health is the last and largest piece of adjustment in Bayer’s organizational shake-up launched in November 2018. After weeks of rumor, Bayer finally confirmed on Aug. 20 that it’s selling the franchise to Eli Lilly spinoff Elanco for $7.6 billion.

Eli Lilly’s $8 billion takeover of Loxo Oncology was one of several mergers and acquisitions focused on cancer treatments and is the Indianapolis drugmaker’s largest bet in the field. The $235-per-share price marked a decent 68% premium over Loxo’s previous close.

Biopharma M&A got a big boost moneywise in 2019. The three largest delivered more than $150 billion, with Bristol-Myers Squibb's $74 billion takeover of Celgene setting a new record. Oncology was still a hot theme, stringing through a whole year of big dealmaking headlines, just as gene therapy gained popularity.