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Thank you for visiting HealthcareBanker.com a news aggregator of middle-market mergers and acquisition activity in the healthcare industries. This site addresses investment banking topics dealing with M&A, Capital Raising, Borrowing/Lending and other Corporate Development and Finance activities within the Healthcare Services, Healthcare IT, Medical Device, and Life Science industries.

Friday, January 25, 2019

2019 JPM Healthcare Conference Recap – Deals, ACA, Outlook, & More!

(By David Lopez)

The 37th Annual J.P. Morgan Healthcare Conference kicked-off on Jan. 7 with a bang as Eli Lilly and Company (LLY) announced that it would acquire Loxo Oncology (LOXO) for $8 billion. Loxo Oncology will provide Eli Lilly with access to several cutting-edge cancer fighting drugs including those that inhibit oncogenic drivers in cancer. Eli Lilly purchased Loxo at a premium of about 68% or $235-per-share. 

The deal is the second largest biotech acquisition since the start of the new year. The first being Bristol Myers Squibb Co’s (BMY) acquisition of Celgene Corp. (CELG) for $74 billion, which was announced on Jan. 3.