Pharma giant Novo Nordisk announced Thursday that it is cutting 1,000 jobs after slashing forecasts for 2016, citing lower prices for diabetes drugs. Novo and competitors such as Indianapolis-based Eli Lilly will likely have to keep tightening their belts as prices and profit margins fall, experts say.
On Jan. 1, Dave Ricks becomes CEO of drugmaker Eli Lilly and Co. as it tries to launch new products after a tough stretch of patent expirations. To prepare, Ricks has spent a lot of time with outgoing CEO John Lechleiter “learning from the master.”
Drugmakers facing a price war in the diabetes market, including Indianapolis-based Eli Lilly and Co., are betting on new technologies to withstand the competition.
Eli Lilly and Co. and its partner cannot stop competitors from selling generic versions of testosterone treatment Axiron, a federal judge in Indianapolis has ruled.
Named AZD3293, the drug belongs to a novel class of drugs that block production of amyloid, a protein that causes plaque to build up in the brain of Alzheimer’s patients.
Seven men who took Cialis pills to treat erectile dysfunction sued Indianapolis drugmaker Eli Lilly and Co. this week, claiming they later suffered from skin cancer that was related to the medicine.
Dave Ricks will begin guiding the company during a period of relative calm compared with the trying times John Lechleiter navigated during his eight years at the helm.
Over the last eight years, Eli Lilly relied on a three-decade company veteran to steer it through declining sales and a struggling product pipeline. Now, it’ll rely on another long-time executive for its next chapter.
John Lechleiter has been the company’s CEO since 2008. The announcement Wednesday morning of his retirement comes one day after the firm announced strong revenue and profit for its second quarter, indicating that Lechleiter’s initiatives have paid off.
CEO John Lechleiter said the company's strong R&D pipeline has put it on track to report average annual revenue growth of at least 5 percent through the remainder of the decade.
A hot-selling drug for diabetes sold by Eli Lilly and Co. and a co-partner just got another potential boost, as a government panel narrowly recommended that the companies should be allowed to claim that the drug cuts the risk of cardiovascular death.
After a long swoon, the Lilly Endowment is packing an increasing philanthropic punch. Assets climbed to $11.8 billion in 2015, the fifth straight year they rose.
Indianapolis-based Simon Property Group Inc. and Warsaw’s Zimmer Biomet Holdings vaulted back among the top 500 this year, while local oil refiner Calumet Specialty Products Partners plummeted.
The competition heated up in the $71.5 billion global diabetes market last year after Indianapolis-based Eli Lilly’s and Boehringer Ingelheim’s Jardiance unexpectedly reduced the risk of heart attacks, strokes and deaths in a study.
The Indianapolis-based drugmaker said Tuesday it has built a robust pipeline of drugs that “has the potential” to launch 20 new products in the 10 years between 2014 and 2023.
A federal judge made the award to Lilly’s former executive director of human resources, who quit for health reasons and was later dropped from the company’s extended disability plan.
Lilly got a boost from a stable of new drugs but saw sales tumble for longtime stalwarts Cymbalta and Humalog. Meanwhile, R&D costs rose as the company ushered products through its late-stage pipeline.
Bristol-Myers Squibb Co.’s blockbuster cancer drug Opdivo prolonged survival in cases of recurrent head and neck cancer, a first for patients with the harshest form of the disease who often face a bleak prognosis.
The three drugmakers that dominate the world diabetes market—Eli Lilly and Co., Novo Nordisk A/S and Sanofi—are introducing improved forms of insulin, with a price tag to match.
The Senate easily passed a bill Monday allowing corporations to make a federal case of the theft of trade secrets, but a broader patent-law overhaul backed by businesses including Eli Lilly and Co. faces a rougher road.
