Eli Lilly’s $8 Billion Acquisition of Loxo Oncology

For Lilly, Deutsche Bank is acting as the exclusive financial advisor and Weil, Gotshal & Manges LLP is acting as legal advisor in this transaction. For Loxo Oncology, Goldman Sachs & Co. LLC is acting as exclusive financial advisor and Fenwick & West LLP is acting as legal advisor.

Eli Lilly and Company (NYSE: LLY) and Loxo Oncology, Inc. (NASDAQ: LOXO) entered in a definitive agreement for Lilly to acquire Loxo Oncology for $235.00 per share in cash, or approximately $8.0 billion. Loxo Oncology is a biopharmaceutical company focused on the development and commercialization of highly selective medicines for patients with genomically defined cancers.

The acquisition would be the largest and latest in a series of transactions Lilly has conducted to broaden its cancer treatment efforts with externally sourced opportunities for first-in-class and best-in-class therapies. Loxo Oncology is developing a pipeline of targeted medicines focused on cancers that are uniquely dependent on single gene abnormalities that can be detected by genomic testing. For patients with cancers that harbor these genomic alterations, a targeted medicine could have the potential to treat the cancer with dramatic effect.

The Weil team advising Eli Lilly is led by Mergers & Acquisitions partners Raymond Gietz (Picture) and Matthew Gilroy and includes Mergers & Acquisitions associates Aileen Kim, Stephen Liebscher, Mario Carroll and Bilal Chaudhry (Not Yet Admitted in New York); Technology & IP Transactions partner Jeffrey Osterman; Tax partner Helyn Goldstein; Executive Compensation & Benefits partner Amy Rubin; Patent Litigation and Life Sciences Co-Head Elizabeth Weiswasser; Regulatory counsel John O’Loughlin; Technology & IP Transactions associates Lauren Springer and Caleb Small (Not Yet Admitted in New York); Tax associate Eric Remijan; Executive Compensation & Benefits associates Amanda Rosenblum and Travis Bruno (Not Yet Admitted in New York); and Patent Litigation associates Aaron Pereira and Natalie Kennedy.

Fried Frank acted as counsel to Goldman Sachs as financial advisor to Loxo Oncology with a team including Philip Richter and included corporate associates Asiya M. Ubaid and Roy Tannenbaum.

Involved fees earner: Philip Richter – Fried Frank Harris Shriver & Jacobson; Roy Tannenbaum – Fried Frank Harris Shriver & Jacobson; Asiya Ubaid – Fried Frank Harris Shriver & Jacobson; Mario Carroll – Weil, Gotshal & Manges; Raymond Gietz – Weil, Gotshal & Manges; Matthew Gilroy – Weil, Gotshal & Manges; Helyn Goldstein – Weil, Gotshal & Manges; Natalie Kennedy – Weil, Gotshal & Manges; Aileen Kim – Weil, Gotshal & Manges; Stephen Liebscher – Weil, Gotshal & Manges; Jeffrey Osterman – Weil, Gotshal & Manges; John O’Loughlin – Weil, Gotshal & Manges; Aaron Pereira – Weil, Gotshal & Manges; Eric Remijan – Weil, Gotshal & Manges; Amanda Rosenblum – Weil, Gotshal & Manges; Amy Rubin – Weil, Gotshal & Manges; Lauren Springer – Weil, Gotshal & Manges; Elizabeth Weiswasser – Weil, Gotshal & Manges;

Law Firms: Fried Frank Harris Shriver & Jacobson; Weil, Gotshal & Manges;

Clients: Eli Lilly; Goldman, Sachs & Co.;