Deals

Gilead, Pfizer Execs Suggest Even More Pharma M&A Is on Way

Drugmakers talk deals as investment conference stirs chatt
Comments follow cancer-drug deals by Bristol-Myers, Eli Lilly

Eli Lilly CEO Dave Ricks discusses drug price transparency and the purchase of Loxo Oncology.Source: Bloomberg)

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By Riley Griffin

January 7, 2019 at 8:27 PM UTC

Updated on

January 8, 2019 at 1:44 AM UTC

This article is for subscribers only.

U.S. drugmakers are showing a new appetite for deals after saying for months that they were focused mainly on existing products.

Eli Lilly & Co. said Monday it will acquire Loxo Oncology Inc. for about $8 billion in cash. The announcement came just days after Bristol-Myers Squibb Co. and Celgene Corp. announced a $74 billion cash-and-stock deal, the biggest pharma deal ever.