The pay freeze will save $400 million through 2016, said a spokesman for the Indianapolis-based company. Lilly won’t give pay raises to executives, supervisors or most employees. Some bonuses will also be reduced.
The trial of 2,100 patients, called Expedition III, will use new measures of cognitive function, such as the ability to do tasks like cooking or driving, or remembering words after a delay.
Lilly officials said they will push ahead with the first-of-a-kind imaging chemical, despite the mostly negative ruling by Medicare officials.
Eli Lilly and Co. Chairman and CEO John Lechleiter is back to full-time work after taking a leave in May to have surgery for a dilated aorta, the company announced Monday morning.
Thieves broke into the Connecticut warehouse of Indianapolis-based Eli Lilly and Co. in 2010 by scaling an exterior wall and cutting a hole in the roof. They lowered themselves to the floor and disabled alarms before using a forklift to load pallets of drugs into a getaway vehicle.
The $3,000 test for the first time accurately identifies the signature brain plaques of the debilitating disease.
Lilly’s drug, if approved, may be a significant competitor to Novo Nordisk A/S’s Victoza, which generated $1.64 billion in 2012.
Eli Lilly and Co.’s injectable form of the antipsychotic Zyprexa is being investigated by U.S. regulators after two patients died three to four days after receiving the drug.
Drug companies like Eli Lilly and Co. can be sued for paying rivals to delay low-cost versions of popular medicines, the U.S. Supreme Court said in a decision that rewrites the rules governing the release of generic drugs.
Eli Lilly and Co. will pay Canadian drug developer Transition Therapeutics Inc. at least $7 million and up to as much as $247 million to take over the development of a potential diabetes treatment.
The trial ended after participants showed abnormal liver biochemistry, the Indianapolis-based drugmaker said Thursday in a statement.
Angie’s List turned a profit for the first time in nearly two decades.
Patients who got Erbitux together with chemotherapy as a first-line treatment lived about four months longer than those who got Avastin with chemotherapy, according to the 592-person study.
Lilly Endowment awarded $230 million in 2012, mostly to Indiana groups. Its fortunes still are largely tied to the value of Eli Lilly and Co. stock, despite an effort to diversify the private foundation’s holdings.
The study results, which will be released Monday afternoon, are part of Indianapolis-based Lilly’s campaign to get Medicare to pay for use of its brain imaging agent Amyvid.
Eli Lilly claims recent decisions by Canadian courts invalidating 17 drug patents have made the country an outlier among major developed countries.
Eli Lilly and Co. CEO John Lechleiter underwent a scheduled surgery Monday for a heart defect, and the repair to the aorta is functioning as intended, the Indianapolis-based drugmaker said.
The drug, enzastaurin, was in the most advanced stage of testing and had been expected to generate $260 million in annual sales by 2018.
Five of the six Hoosier firms that appear in the 2013 rankings slipped from their positions in last year’s list of the largest U.S. companies.
John Lechleiter has been suffering from a dilated aorta, Eli Lilly and Co. said Monday. Current CFO Derica Rice will take his place until later this summer.
