Alex Azar, a former Eli Lilly and Co. executive, acknowledged to the Senate Finance Committee that drug prices are too high and said he'd work to lower them if confirmed as secretary of Health and Human Services.
Eli Lilly and Co. CEO Dave Ricks said Monday that the recent changes in U.S. tax policy will help the drugmaker lower its global tax burden as he continues to look for deals in areas like oncology.
Taltz, launched in 2016 to treat plaque psoriasis, won approval from the Food and Drug Administration for a second indication—treating adults with a form of arthritis.
A recently unsealed suit accuses the Indianapolis-based drugmaker of offering free nursing services to doctors to induce them to prescribe the company’s products.
As a top pharma industry veteran from 2007 to 2017, former Eli Lilly and Co. executive Alex Azar built a substantial financial portfolio now worth as much as $20.6 million.
If confirmed by the Senate, former Eli Lilly and Co. exec Alex Azar will oversee a $1 trillion department responsible for major health insurance programs, medical research, food and drug safety, and public health.
Alex Azar, who ran U.S. operations for Eli Lilly before leaving in January, would be the administration’s point person on running—or dismantling—Obamacare.
Lilly CEO David Ricks says the time is right “to consider a variety of options to maximize future value,” such as an initial public offering. But analysts say an IPO would make more sense if Elanco were performing better.
Despite slipping sales and lost market share, the Elanco animal-health unit is strong and the time is right to explore selling or spinning it off, Eli Lilly and Co. officials said Tuesday.
The company announced Tuesday that it is reviewing options for the Greenfield-based division, "including an initial public offering, merger, sale, or retention of the business."
The Indianapolis drugmaker said it will use the money to replace an existing line that fills vials for Humalog and Humulin and to prepare for new insulin products.
Before joining Eli Lilly and Co., Alex Azar served as the general counsel and deputy secretary of Health and Human Services Administration under President George Bush.
The appointments mark the latest changes in the Indianapolis-based drugmaker’s executive suite since David Ricks took over as CEO in January.
U.S. regulators have approved a new medicine for treating a common type of breast cancer after it has spread to other parts of the body.
The Greenfield-based unit, which makes a vast array of vaccines, antibiotics, feed additives and other health products for livestock and pets, is in a slump, after more than a decade of growth.
li Lilly and Co.’s experimental breast cancer drug abemaciclib, when combined with standard therapy, slowed the progression of tumors in patients with an advanced form of the disease.
Indianapolis-based pharmaceutical giant Eli Lilly and Co. said the 3,500 jobs represent 8.3 percent of its global workforce. Lilly hopes the cuts will save it $500 million a year.
Danish drugmaker Novo Nordisk says it has reached a settlement over allegations that it hadn’t properly communicated safety information when marketing a medicine to treat type 2 diabetes.
The Indianapolis drugmaker said it will not be required to conduct another expensive, time-consuming clinical trial for the potential blockbuster.
Over the past 20 years, while the price of a gallon of milk climbed 23 percent and the sticker on a Dodge Caravan minivan rose 21 percent, the list price of the insulin Humalog shot up 1,157 percent.
