An independent data-monitoring committee found that the medicine, lanabecestat, was unlikely to meet the goals of the studies, one for early Alzheimer’s and the other for mild dementia related to the disease.
The Indianapolis-based drugmaker has been working for years to develop the much-anticipated drug, which some analysts had said might ring up $2 billion a year in sales.
Alex Azar, secretary of Health and Human Services and a former executive of Eli Lilly and Co., said Monday that the Trump administration plans to turn up the heat on uncooperative pharma firms.
Failure to approve the proposals keeps Eli Lilly and Co.’s supermajority-vote requirement for takeovers and staggered board elections intact.
The Indianapolis-based pharmaceutical giant said it plans to acquire ARMO BioSciences Inc., which is working on treatments that activate the immune system of cancer patients to recognize and eradicate tumors.
The ads for the metastatic breast cancer drug Verzenio show women in their 50s and 60s looking resolute and indomitable, surrounded by smiling friends and family.
A five-year, $7 million program is led and supported by a coalition of local health institutions, including Eli Lilly and Co., Fairbanks School of Public Health and Eskenazi Health. It is based on a model that Lilly has used in other countries.
The Indianapolis-based drugmaker has several pain medications in the pipeline, including potential treatments for migraine headaches, arthritis and chronic back pain.
The Indianapolis pharmaceutical giant is evaluating whether to keep the division, which makes animal-health products, or sell it or take it public. An analyst said it might fetch $16 billion.
Indianapolis-based Eli Lilly and Co. on Tuesday reported quarterly revenue and adjusted earnings that exceeded analyst forecasts.
The drug industry set several quarterly records for lobbying spending in the first three months of 2018, but Indianapolis-based Eli Lilly and Co. actually reduced lobbying expenditures.
Drugmakers will have to offer a much more generous discount to Medicare beneficiaries who fall into the so-called donut hole coverage gap.
Under the agreement, Lilly will pay Sigilon Therapeutics up to $410 million if the technology hits certain milestones.
Derica Rice, 53, one of the nation’s most powerful black executives, retired from Indianapolis-based drugmaker Eli Lilly and Co. in December, after the company passed him over when naming a new CEO.
The company’s board is asking shareholders to support two corporate-governance proposals, including one that would eliminate a requirement that buyout bids garner at least 80 percent shareholder approval.
FDA Commissioner Scott Gottlieb aimed particular criticism at giant pharmacy benefit managers that contract with health plans to administer coverage of drugs, saying the industry’s tactics have stymied cheaper copies of expensive biotechnology drugs.
Eli Lilly CEO David Ricks’ first year in charge was marked by a wave of activity, including a huge corporate restructuring. The company’s stock price climbed about 6.2 percent during the year.
The Food and Drug Administration proposal will create new opportunities for drugmakers after repeated failures from companies including Indianapolis-based Eli Lilly and Co.
The Indianapolis-based drugmaker said the medicine, called Taltz, proved effective for treating a type of back stiffness, and hopes to submit it for government approval this year.
As a candidate, President Trump advocated Medicare negotiations and allowing consumers to import medicines from abroad. His current strategy recommends changes to policies that the administration believes unwittingly lead to higher prices, and suggests ways to speed drugs to market and increase competition.
