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.
Lisa Schlehuber has served as CEO of Indianapolis-based Elements Financial since 2005. She’ll retire from the role in April, the credit union announced Wednesday.
In December, the U.S. government paused distribution of Lilly’s two previous antibodies, saying they did not appear effective against the omicron variant.
Lilly said it selected Concord, North Carolina, because of the manufacturing technology experience of the local labor force; its proximity to universities with strong science, technology, engineering and math programs; and its access to major transportation infrastructure.
Indianapolis-based Eli Lilly and Co., one of three primary U.S. insulin manufacturers, said it was “deeply disappointed by the false accusations and inaccurate claims” made by the attorney general.
The Food and Drug Administration is poised as soon as Monday to restrict two monoclonal antibodies, saying the COVID-19 treatments should not be employed in any states because they are ineffective against the dominant omicron variant, according to two senior administration health officials.
The federal government has resumed shipping all three monoclonal antibody treatments—including one made by Indianapolis-based Eli Lilly and Co.—that are authorized for early-stage COVID-19 to states despite evidence that two might be ineffective against the omicron variant.
Indianapolis-based Eli Lilly and Co. will make an initial $50 million payment to Entos Pharmaceuticals. Entos also could receive up to $400 million in potential milestone payments, as well as royalties, for successful products.
The pharmaceutical giant has quietly returned to making political contributions to 14 Republican lawmakers who voted against certifying the 2020 election results, according to a report issued Monday by watchdog group Accountable.US.
The U.S. Department of Health and Human Services cited new data that shows the therapies are unlikely to be effective against the Omicron variant.
Eli Lilly’s blockbuster drug for osteoporosis, Forteo, could face generic competition from Indian drugmaker Sun Pharmaceuticals if the company can get a federal judge to declare that a Lilly patent won’t be infringed.
The companies say they can quickly develop new omicron-targeting antibodies, but those aren’t expected to launch for at least several months.
Indianapolis-based Eli Lilly and Co. has inked a research collaboration and licensing agreement with Regor Therapeutics Group that could be worth up to $1.5 billion.
The biggest policy change—a system for Medicare to negotiate prices for prescription drugs—won’t begin to deliver lower costs until 2025, and then only for a selected set of 10 medicines, as well as insulin products.
The purchase will amount to 614,000 doses of two drugs, bamlanivimab and etesevimab, that make up the drug-cocktail infusion, Lilly said.
The ruling from Senior Judge Sarah Evans Barker also hinted that Congress needs to address the problems with the 340B Drug Pricing Program.
Indianapolis-based Eli Lilly and Co. saw revenue in the third quarter increase 18 percent over the same period of 2020, to $6.77 billion.
“A cut [in drug prices] like is being proposed would have about a 40% reduction in our U.S. revenues,” Lilly CEO David Ricks said in a television interview this week with Gerry Dick on Inside Indiana Business, a division of IBJ Media.
