Loxo Oncology and Bayer announced a global co-development and co-commercialization partnership for the selective TRK inhibitors larotrectinib and LOXO-195. Loxo received $400M upfront plus up to $450M in larotrectinib milestones and $200M in LOXO-195 milestones (~$1.55B total). 50/50 global development cost split; Loxo leads U.S. regulatory; Bayer leads ex-U.S. regulatory and commercialization. 50/50 U.S. profit share. Larotrectinib later approved as Vitrakvi.