Lilly eyes more cancer deals, but wary of CAR-T, gene therapy - (Yahoo Finance via NewsPoints Desk)

  • Eli Lilly CEO Dave Ricks said that as the company looks for deals to enhance its pipeline of future treatments it will leave CAR-T therapies for cancer and gene therapy for rare diseases to others, as reported Yahoo Finance Friday.

  • "The data is amazing, but practically, it's not reaching many people," Ricks noted of CAR-T therapy.

  • "We have said it's not for us right now," Ricks said, adding that Medicare reimbursement levels were leaving hospitals to cover much of the bill for CAR-T therapy.

  • As for gene therapy, Ricks noted that "almost everything I am aware of is single gene edit defects, which ultimately leads you to pretty ultra-rare conditions, which are not our area of interest."

  • Eli Lilly recently announced that it would buy Loxo Oncology for $8 billion.

  • Ricks further noted that Eli Lilly recognises it was "late to the game" in the fast-growing and lucrative field of new cancer drugs, adding that the company is also developing its own immunotherapies, but would consider future deals in that arena.

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