Shares in the Indianapolis-based drugmaker are setting new records almost every day, due to investor excitement over the company’s new drugs for obesity and diabetes, two health conditions that plague America.
In recent weeks, the Indianapolis-based philanthropy has been unveiling a flurry of gifts at the $100 million level or higher.
As Novo and Lilly fight to dominate the market in weight-loss drugs, gaining an edge in manufacturing power is emerging as a new front. Both drugmakers are racing to secure the highly specialized plants that can churn out enough of their top-selling drugs to keep up with demand.
Indianapolis-based Eli Lilly and Co. and Switzerland-based Novartis were the most active acquirers in the past 12 months, with seven and six deals respectively, according to data compiled by Bloomberg.
The Indianapolis based drugmaker posted net income of $2.19 billion for the quarter. Excluding nonrecurring items, adjusted earnings per share of $2.49 beat the FactSet consensus of $2.30.
The partnership will connect undergraduate students and degree programs from the IU Indianapolis campus with opportunities at Lilly, such as finance, human resources and information technology.
Lilly said it was working closely with the FDA and the “situation does not affect the quality, safety or supply of any current or planned Lilly products in the marketplace.”
In addition, the Ricks Family Foundation says it will match up to an additional $2.5 million in donations from individuals, foundations and corporations.
Among the medications listed as available through LillyDirect Pharmacy Services is Zepbound, the company’s popular new weight loss treatment, which is projected to exceed $2 billion in sales in 2024.
David Ricks led Eli Lilly and Co. to milestone after milestone in 2023, with a slew of product launches for diseases from obesity to inflammatory bowel disease. And when Lilly wasn’t scoring wins in the laboratory, it was issuing a series of head-turning announcements,
Among other big dealmakers in 2023 was Hillenbrand Inc., Jasper-based Kimball International Inc. and Noblesville-based Helmer Scientific Inc.
Obesity drugs like Wegovy and Eli Lilly’s Zepbound are showing promising results in helping people shed pounds. But a law bans Medicare from paying for weight loss drugs. Now, drugmakers and a bipartisan coalition of lawmakers are gearing up to push for that to change next year.
It was a busy year for the Indiana life sciences community, with a flurry of billion-dollar deals, major announcements, and a few setbacks. Here we present the top 10 stories of 2023—the good, the bad and the ugly—about an industry that is often hailed as a key driver of Indiana’s economy.
Fauna Bio, based in the San Francisco area, said Thursday it will give Lilly access to its AI platform, called Convergence, to support preclinical drug discovery efforts in obesity.
Results of a clinical trial for Point Biopharma’s lead compound fell short of analysts’ expectations, and that development is likely to pressure its investors to decide whether to agree to sell the company to Eli Lilly and Co. for $1.4 billion.
People who stopped taking Eli Lilly and Co.’s blockbuster drug Zepbound after about eight months regained half the weight they’d lost a year later, yet were significantly thinner than when they had started the obesity drug, according to a new study.
The new drug, called Zepbound, carries a hefty price of $1,059.87 per month, and insurers and health care plans are balking, questioning its affordability. Many employers and government health programs exclude obesity treatments from their coverage.
The two companies have been battling for years over patents for migraine headache drugs—Emgality for Lilly and Anjovy for Teva. Both drugs are once-monthly injections and were approved 13 days apart in September 2018.
The extension comes amid pushback from several investors, including Point’s largest institutional stock holder.
The announcement represents the company’s latest move to meet the soaring demand for its medicines for diabetes and weight loss.
