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Eli Lilly is continuing its Massachusetts shopping spree, picking up a Cambridge biotech focused on blood cancer treatments ...

The acquisition is the latest in a series of recent deals that Indianapolis-based Eli Lilly and Co. has made to increase its cancer-treatment pipeline.

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The Indianapolis-based drugmaker reported profit of $7.4 billion for the first quarter, up from $2.8 billion in the same period a year earlier.

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Eli Lilly continued its recent buying spree, agreeing to pay up to $2.3 billion for Ajax Therapeutics in a deal that bolsters the drugmaker’s blood-cancer portfolio.

Eli Lilly said on Monday ​it would buy ​privately ​held blood cancer treatment developer Ajax Therapeutics for up to $2.3 ...