February 15, 2019 / 3:00 PM / 2 months ago

Bayer acquires full Vitrakvi rights from Eli Lilly's Loxo

FRANKFURT, Feb 15 (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 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.

Reporting by Ludwig Burger

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