Slow economy bruises profits of Indiana’s largest public companies
One-time events influenced bottom lines of some of the few companies that made more money in 2009.
Eli Lilly and Co.
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Recession hammered revenue of Indiana’s largest public companies
Few escaped the Great Recession unscathed, and unusual circumstances helped some appear as though they did.
Research reforms will force Lilly, others to test how drugs stack up
The federal government is currently doling out $1.1 billion in stimulus funds to pay for research that compares multiple medical
treatments against one another to determine which is most effective. Drug companies like Eli Lilly and Co. are wary that comparative-effectiveness
research could threaten their sales.
Lilly taps O’Connor as state lobbyist
O’Connor, chief deputy mayor under former Indianapolis Mayor Bart Peterson, started Monday as Lilly's director of
state government affairs—working again under Peterson.
Erbitux fails to stop colon cancer before it spreads
Eli Lilly and Co. and Merck KGaA drug failed to slow tumors in a study designed to expand the medicine’s use to patients whose
disease is in an earlier stage.
Genetic testing could spur Erbitux drug sales
The drugmakers are counting on screening for the so-called K-ras gene to spur use of Erbitux in metastatic colorectal cancer.
Lilly grows Alimta’s sales by shrinking market
In 2008, Eli Lilly and Co. asked drug regulators to change the label on Alimta so Lilly could no longer promote it as a treatment
for all patients suffering from non-small-cell lung cancer, but for only about 70 percent of the patients. Since then, sales
of the drug have accelerated, growing a whopping 48 percent last year.
Indianapolis startup attacks Alzheimer’s disease
AgeneBio Inc. this month landed a $300,000 investment from the Indiana Seed Fund to fund operations, bolster its intellectual
property, and begin learning how to make a drug into a once-a-day pill.
Lilly spent $2.3M lobbying in first quarter
Indianapolis-based Eli Lilly and Co. spent about $2.3 million in the first quarter of 2010 lobbying the federal government
on health care reform, Medicare reimbursement and trade issues among other topics.
Moody’s lowers Eli Lilly outlook to ‘negative’
Moody's Investors Service on Friday lowered its rating outlook on drugmaker Eli Lilly and Co. to "negative"
from "table" due in part to the looming expiration of patents protecting key drugs from generic competition.
Eli Lilly invests in $250M Australian venture fund
The unnamed venture fund will be based in Brisbane, and will focus on biotechnology investments in Australia and southeastern
Asia.
Drug-spending increase highest in four years
The price increase was fueled by the debate over the health-care overhaul in Washington, D.C., Medco Health Solutions Inc. CEO David Snow said.
Lilly, others cut U.S. tax bills through transfer pricing
U.S. companies, including Eli Lilly, amassed at least $1 trillion in foreign profits not taxed in the U.S. as of the end of
last year. That cumulative total increased 70 percent over three years.
Lilly still waiting on once-weekly Byetta
The U.S. Food and Drug Administration last week pushed its self-declared deadline for rendering an approval decision on the
drug Bydureon to Oct. 22. The previous deadline was in March.
Latest Lilly job cuts target marketing employees
Indianapolis-based drugmaker Eli Lilly and Co. is on course to cut 5,500 jobs by the end of 2011 in a bid to eliminate $1
billion in annual expenses.
Lilly hopes Elanco unit becomes a cash cow
Elanco Animal Health chief Jeff Simmons predicts that consumers will opt for food made cheaper by using
Elanco’s productivity-enhancing drugs over pricier organic and locally grown products. But, as a hedge,
he has Elanco developing products to help organic farmers, too.
Lilly sues to block copy of Evista osteoporosis drug
Watson Pharmaceuticals filed for FDA approval to sell a low-cost version of Eli Lilly and Co.’s osteoporosis medicine. Indianapolis-based
Lilly is seeking a court order that would block approval until three of its patents expire in 2017.
Purdue drug maker closing its doors after 5 years
The Purdue Research Foundation says the Chao Center for Industrial Pharmacy and Contract Manufacturing was unable to become
self-sustaining in part because of the recession.
Drug prices rise ahead of rebates
Drug prices rose faster last year than they have in a decade—just in time for big rebates the drug industry promised
as part of the health reform law.
Shareholders fail to remove Lilly’s anti-takeover provision
The proposal to remove an 80-percent approval threshold for takeover bids against the wishes of Lilly’s board received
approval from shareholders holding 74 percent of Lilly’s shares.