Lilly shares slide 7% after Roche announces obesity pill test results
The Roche drug is a once-daily pill, compared to Lilly’s tirzepatide, sold under the brand names Mounjaro (for diabetes) and Zepbound (for obesity), which is a once-weekly shot.
The Roche drug is a once-daily pill, compared to Lilly’s tirzepatide, sold under the brand names Mounjaro (for diabetes) and Zepbound (for obesity), which is a once-weekly shot.
Roche and Lilly said they believe the test could play an important role in improving access to early and accurate Alzheimer’s diagnosis.
The company, Carmot Therapeutics, has numerous drugs under development. Its lead asset is a once-a-week injection that is in mid-stage development for the treatment of obesity.
Roche has come under pressure to improve its pipeline with medicines it can commercialize soon as a windfall of revenue from products used in the COVID-19 pandemic comes to an end.
History: Roche Diagnostics Corp. is a division of Roche, the world’s largest biotech company and a global pioneer in pharmaceuticals and diagnostics. The Indianapolis division began as locally based Bio-Dynamics, in 1964. It produced the first device that could test blood-glucose levels without requiring that blood be sent to a laboratory. Amsterdam-based Boehringer Mannheim Corp. […]
Brad Moore succeeds Matt Sause, who was appointed CEO of Roche Diagnostics globally in October.
Gantenerumab’s demise is a boost for Indianapolis-based Eli Lilly and Biogen, which are also developing treatments for Alzheimer’s, said Tim Anderson, an analyst at Wolfe Research. Lilly shares were up 1.8% at midday.
The test is the first over-the-counter test distributed in the U.S. by Roche Diagnostics, which has its North American headquarters in Indianapolis.
Brigitte Fernandes is suing Roche for sex discrimination and national origin discrimination. A Roche spokesman declined to comment, citing pending litigation.
Matt Sause, president and CEO of Roche Diagnostics North America since 2019, has been named CEO of Roche Diagnostics and a member of the corporate executive committee. He will relocate to the parent company’s offices in Basel, Switzerland.
In a statement to IBJ, Roche said it hopes to display “supportive and inspiring messages” visible from I-69 as part of a new corporate initiative.
The contract is part of the U.S. government’s effort to double its procurement of rapid COVID-19 tests to be delivered for free to Americans through a forthcoming federal website.
About 3,000 people work on the company’s large campus at 9115 Hague Road on the northeast side of Indianapolis and another 1,500 people work elsewhere across the region.
Roche Diagnostics is requiring COVID-19 vaccinations for all 8,000 people in its U.S. workforce, including about 4,500 in Indianapolis. Employees will have until Nov. 15 to get fully vaccinated, or will be terminated, the company said in a statement.
Matthew Sause took the helm of the 4,500-person Roche Diagnostics’ North American operations in Indianapolis in November 2019—just four months before the World Health Organization declared a pandemic and much of the planet went into lockdown.
Crystal Derrick, who was a national account manager in Roche’s diabetes division, had accused the company of illegally paying insurance company Humana Inc. for access to certain formularies.
Round Room, a holding company for wireless retailers, plans to relocate from Carmel to Fishers by early next year. The move to the 190,000-square-foot building will give the company room to grow.
Roche Diagnostics’ North American headquarters in Indianapolis will be the shipping and distribution hub for all tests distributed in the United States, the company said.
Compressing a two-year job into nine weeks is a remarkable—almost unheard of—feat. Yet that’s what Roche Diagnostics did when it shipped the first commercially available tests for the novel coronavirus on March 13.
Indianapolis-based Roche Diagnostics said Monday that it has begun shipping an initial order of 400,000 COVID-19 test kits to a network of more than 30 hospital and laboratories.