A groundbreaking cancer drug nabs fast OK, giving Eli Lilly boasting rights as a rival speeds close behind

Eli Lilly $LLY has scored the fast FDA approval it was gunning for when the pharma giant plunked down $8 billion to acquire Loxo Oncology back at the beginning of 2019. Regulators stamped their OK on selpercatinib, which can now be marketed as Retevmo to patients suffering from 3 different types of cancers all driven by the same gene alteration.