Story perspectives

Lilly to Acquire Ajax Therapeutics for $2.3 B, Targeting Myelofibrosis

4/28/2026

Summary

Story summary

Eli Lilly announced on April 27, 2026 it will acquire Ajax Therapeutics for up to $2.3 billion in cash.
The acquisition targets AJ1-11095, an oral, once-daily experimental drug in early-stage testing for myelofibrosis that blocks JAK2 via a novel mechanism.
Jacob Van Naarden said Lilly will use its blood-cancer expertise to develop the medicine.
Analyst Louise Chen called the deal a logical fit that broadens Lilly’s oncology portfolio beyond obesity.

History

Historical Context

In 2001 the FDA approved Novartis’s imatinib (Gleevec), the first targeted therapy that turned chronic myeloid leukemia into a manageable disease. Its blockbuster status sparked price debates, with revenues reaching $4.7 billion in 2012 and a 2013 open letter by Brian Druker and other oncologists condemning costs. The legacy of that model underpins Eli Lilly’s 2026 acquisition of Ajax Therapeutics to expand JAK2-inhibitor pipelines.

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Story summary

Eli Lilly announced on April 27, 2026 it will acquire Ajax Therapeutics for up to $2.3 billion in cash.
The acquisition targets AJ1-11095, an oral, once-daily experimental drug in early-stage testing for myelofibrosis that blocks JAK2 via a novel mechanism.
Jacob Van Naarden said Lilly will use its blood-cancer expertise to develop the medicine.
Analyst Louise Chen called the deal a logical fit that broadens Lilly’s oncology portfolio beyond obesity.

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