Eli Lilly and Co. spends a lot of time these days telling the rest of the story—how well it’s doing in areas not connected to highly lucrative drugs about to see their patents expire. But for the most part, investors and analysts just want to know when the next blockbuster will be coming.
Eli Lilly and Co.’s first-quarter profit beat the expectations of Wall Street analysts, but its stock price slipped anyway Monday morning, along with the broader market.
First-quarter profit fell at Eli Lilly and Co. as the company recorded restructuring charges due to its downsizing and higher research costs as it tries to develop new drugs to help it shrug off its looming patent expirations.
Eli Lilly and Co. Inc. said Friday that the FDA has asked the drugmaker to conduct another clinical trial of its proposed pancreas drug before it resubmits an application to have the drug approved for sale.
The drug awaits final action by the European Commission, which has the authority to approve medicines for the European Union. The Commission usually makes a decision on CHMP recommendations within two to three months.
The total annual cost for one researcher at Lilly might run $300,000 to $350,000 a year. The figure at Crown Bioscience is one-third of that, said a company executive.
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The study included Eli Lilly and Co. drug Cymbalta, which racked up sales of $3.5 billion last year for the Indianapolis-based drugmaker.
Eli Lilly and Co. is starting a service program that sends employees around the world to help developing communities and learn about other cultures, as the drugmaker looks to international markets.
China remains a small market for Eli Lilly and Co. It generated $320 million in sales for the company in 2010, just 1.3 percent of its $23 billion in sales worldwide. But Lilly has big ambitions in China and is racing to capitalize on its rapid economic growth.
Drugmakers Merck & Co. and Sanofi-Aventis SA have abandoned plans to combine their animal-health businesses after wrestling with regulators for a year over potential divestitures.
Indianapolis-based Eli Lilly and Co. was among a list of possible suitors for about $1 billion in assets the two companies considered selling.
The Food and Drug Administration said Lilly needs to create a training program to ensure brain scans are interpreted properly.
Eli Lilly and Co., Lilly Corporate Center, Indianapolis, 46285 (www.lilly.com) discovers, develops, manufactures and sells pharmaceutical products for humans and animals.
Eli Lilly and Co.’s patent-infringement claim over Hospira Inc.’s generic version of the cancer treatment Gemzar will be investigated by a U.S. trade agency with the power to block imports of the copycat drug.
Eli Lilly and Co. CEO John Lechleiter visited Japan last week—three days before the massive earthquake—to deliver his tried-and-true message: Drug companies need to reinvent invention, governments needs to support innovation, and Lilly will be just fine after it has sustained the damage of the next three years.
Elanco, the animal health division of Eli Lilly and Co., has agreed to acquire Jannsen Animal Health, a subsidiary of New Jersey-based Johnson & Johnson, pending regulatory approval. Financial terms of the deal were not disclosed.
The failure of its drug Bydureon to match the performance of Novo’s Victoza trims but doesn’t kill sales prospects for the highly touted diabetes drug.
Bydureon, the diabetes drug being developed by Amylin Pharmaceuticals Inc., Eli Lilly and Co. and Alkermes Inc., didn’t control the disease better than Novo Nordisk A/S’s Victoza in a study.
Advion BioServices is expected to open the lab at Purdue Research Park in Indianapolis in May with 49 employees. Some of the workers may come from Eli Lilly and Co., which is moving its drug-discovery bioanalytical operations to Advion as part of a partnership.
Now that financing for Buckingham Cos.’ massive project has the city’s blessing, the local developer is turning its full attention to construction of the 14-acre, mixed-use complex.
