Eli Lilly and Co. said Thursday that meeting its sale target will be a challenge. It plans to repurchase $5 billion in shares and introduce new diabetes drugs to help navigate through patent losses. Another immediate hurdle: Obamacare.
Indiana University Health now says it will cut more than 900 jobs in a reorganization. That's at least 100 more than announced nearly three weeks ago.
Eli Lilly said a potential breast cancer treatment missed its main goal in a late-stage study. However, the drugmaker will seek approval to use the treatment in stomach cancer patients after ramucirumab performed better in a separate study.
Eli Lilly and Co. is counting on the quality of a diversified product portfolio over boosting its sales forces to grab a bigger slice of the $22 billion U.S. diabetes market, a difference in strategy to some of its rivals.
Part of the funding will go to an existing study of drugs from Eli Lilly and Co. and others to see whether they can ward off the disease in people who inherited genes that predestine them to get Alzheimer’s.
Major health insurers like WellPoint Inc. are in line for another year of growth, as the health care overhaul implements key elements in its push to cover millions of uninsured people.
The Indianapolis-based hospital system said Thursday it must make the cuts because fewer patients have been coming to hospitals and payment rates for its services have been declining.
With a half-dozen new products lined up for approval within two years, the fight to win the growing $22 billion U.S. diabetes market is expected to intensify.
Eli Lilly and Co. said it is investigating allegations its employees paid Chinese doctors at least $4.9 million in bribes and kickbacks to promote the sales of two diabetes drugs.
If approved, the drug would be a potent boost to Lilly’s product portfolio. It would also mean a critical new therapy for a cancer that’s proven difficult to treat.
Acquisition of Atlanta-based medical billing firm would zoom annual revenue at Carmel-based Zotec from $85 million to $215 million. The combined companies would employ 1,750 people.
The pay freeze will save $400 million through 2016, said a spokesman for the Indianapolis-based company. Lilly won’t give pay raises to executives, supervisors or most employees. Some bonuses will also be reduced.
Under so-called reference-based benefits, insured patients would have to pay the difference between procedure prices and maximums set by their employers. Several Indiana companies are considering using the tactic.
The trial of 2,100 patients, called Expedition III, will use new measures of cognitive function, such as the ability to do tasks like cooking or driving, or remembering words after a delay.
Flying under the radar for much of its existence, local health tech startup hc1.com Inc. now thinks it’s ready to soar. The company, spun out last year from Zionsville-based Bostech Corp., is on pace to generate annual revenue of $10 million by year’s end. And it thinks business could triple next year.
Eli Lilly and Co. Chairman and CEO John Lechleiter is back to full-time work after taking a leave in May to have surgery for a dilated aorta, the company announced Monday morning.
It was not clear how many workers were losing their jobs in the Indianapolis area. However, people familiar with the cuts said the reductions were heavy in the administrative ranks, and many of those jobs are on the city’s north side.
Lilly’s drug, if approved, may be a significant competitor to Novo Nordisk A/S’s Victoza, which generated $1.64 billion in 2012.
Eli Lilly and Co.’s injectable form of the antipsychotic Zyprexa is being investigated by U.S. regulators after two patients died three to four days after receiving the drug.
Drug companies like Eli Lilly and Co. can be sued for paying rivals to delay low-cost versions of popular medicines, the U.S. Supreme Court said in a decision that rewrites the rules governing the release of generic drugs.
