Like a kite that has caught a stiff breeze, Eli Lilly and Co. stock is having the ride of its life. Shares in the Indianapolis-based drugmaker have soared 41% in the past 52 weeks, to about $331 each.
Indianapolis-based Eli Lilly and Co. on Wednesday announced an agreement with the U.S. government to supply an additional 150,000 doses of its COVID-fighting antibody bebtelovimab.
The drugmaker is one of hundreds of U.S. companies being sued in the recent trend in litigation: excessive fees on 401(k) retirement plans.
A top human resources officer at Eli Lilly and Co.’s factory in New Jersey claims the drugmaker fired her in retaliation for investigating employee complaints about drug manufacturing problems and for refusing to drop the matter.
Lebanon Mayor Matt Gentry called Eli Lilly’s plans to build two pharmaceutical manufacturing sites “transformational” for his city.
The Indianapolis-based drugmaker said Wednesday the project in Boone County will create up to 500 jobs in central Indiana, along with up to 1,500 temporary construction jobs.
The drug has been closely watched by medical professionals and is viewed by financial analysts as a possible blockbuster, with potential annual sales in the billions of dollars.
David Ricks’ lunchtime speech to The Economic Club of Indiana—repeated on social media by those in attendance and reported by IBJ and local TV stations—has reverberated across the state.
The following is a partial transcript of Ricks’ speech to the Economic Club of Indiana on April 20, in which he spoke about problems in Indiana’s business climate.
Eli Lilly and Co. posted profit of $1.9 billion in the first quarter, up 40%, on higher sales of COVID-19 antibodies and other key products for diabetes, cancer and arthritis.
The drug, called tirzepatide, has been closely watched by medical professionals and is viewed by financial analysts as possible blockbuster, with potential annual sales in the billions of dollars.
When it comes to competing for jobs, Indiana is far behind the curve in critical ways, Eli Lilly and Co. CEO David Ricks told a lunch crowd Wednesday at the Economic Club of Indiana.
The push by Eli Lilly and Co. will come despite an unfavorable ruling last week from Medicare that sharply restricts reimbursements for a drug in the same class.
Since early March, the Lilly Endowment has sold 1.3 million shares of Eli Lilly and Co. stock, raising $391 million, according to government filings.
The Affordable Insulin Now Act will serve as a political vehicle to rally Democrats and force Republicans who oppose it into uncomfortable votes ahead of the midterms.
For the third year in a row, an investor is proposing that the pharmaceutical company scrap the tradition of combining the role of chief executive officer and board chair.
The Indianapolis-based pharmaceutical company said the facility is part of its strategy to advance RNA-based therapeutics and builds on its acquisition of Prevail Therapeutics, a gene therapy company based in New York.
The Indianapolis-based drugmaker said the antibody is effective against the omicron variant and it has already manufactured several hundred thousand doses. The deal calls for the federal government to pay Lilly more than $720 million.
The FDA has agreed to speed up review of donanemab, but the Centers for Medicare and Medicaid Services is moving to limit reimbursement for drugs in this class to only patients in clinical trials.
The deal calls for the federal government to pay Eli Lilly and Co. more than $720 million for the antibody, which the company said is effective against all COVID-19 variants.
