Poison pills remain as Lilly shareholder vote falls short
The proposal garnered support from the owners of 62 percent of Eli Lilly’s outstanding shares. To pass, the proposal needed approval from the owners of 80 percent of Lilly’s shares.
Health Care Businesses
Articles
Is health care bubble about to burst?
Citigroup economist writes that U.S. health care sector "reminds us somewhat ominously of the bubble in housing finance" because public spending is fueling private profits.
Indy is poster child (again) for medical arms race
Indianapolis was highlighted in a new national study because its hospitals have been particularly aggressive at expanding their geographic reach—raising concerns among health insurers and even hospitals themselves that new medical facilities and market power can only lead to higher prices.
Lilly CEO says cost-cutting won’t solve sales losses
Eli Lilly and Co., facing generic competition to two of its top drugs, needs to rely on new medicines rather than cost-cutting to overcome the revenue loss, CEO John Lechleiter said Thursday in Boston at the annual meeting of the Pharmaceutical Research and Manufacturers of America.
Lilly wins FDA approval for Alzheimer’s imaging agent
The agent, called Amyvid, is not expected to produce high-dollar sales for Lilly, but it could help to identify patients with Alzheimer’s—and those without it—earlier, perhaps improving treatment and focusing research efforts.
Express Scripts-Medco deal approved by U.S. regulators
Express Scripts Inc.’s $29.1 billion bid for rival drug benefit manager Medco Health Solutions Inc. won unconditional approval from U.S. antitrust regulators, clearing the way to create the biggest manager of prescription-drug benefits for corporate and government clients.
Lilly receives Europe’s OK for new Byetta use
European regulators have approved an expanded use for the diabetes treatment Byetta, developed by Eli Lilly and Co. and Amylin Pharmaceuticals Inc. The FDA approved the same expanded use last fall.
Lilly to focus on cancer, diabetes in China, CEO says
Indianapolis-based Eli Lilly and Co. will introduce “over a dozen” new products in China in the next five years, focusing on “unmet needs” such as cancer and diabetes, CEO John Lechleiter said this week.
Express Scripts’ Medco deal may be delayed by potential suit
Express Scripts Inc.’s bid to acquire Medco Health Solutions Inc. and create the largest U.S. pharmacy-benefits manager may be delayed by a lawsuit being considered by five states.
FTC asks critics of Express Scripts-Medco deal for ideas
Two pharmacy groups opposing Express Scripts Inc.’s proposed acquisition of Medco Health Solutions Inc. said they were asked by the U.S. Federal Trade Commission to suggest ways to revise the $29.1 billion deal so it wouldn’t harm competition.
Lilly to try again to remove poison-pill provisions
Eli Lilly and Co.’s board is once again recommending the removal of a provision that makes the company an almost impossible target for hostile takeovers. The same proposal has fallen slightly short at each of the past two annual shareholder meetings.
Arcadia: Don’t buy our stock
Arcadia Resources Inc. is telling shareholders not to buy its stock because it is out of cash and faces a $40 million pile of debt that comes due on April 1.
FDA removes hurdle in Endocyte’s path to drug approval
Endocyte Inc. can start enrolling patients again in a clinical trial of its experimental cancer drug, the company announced Monday, clearing away a hurdle to getting the drug approved in Europe.
Anthem seeking state rule change allowing doctors to practice online
Anthem Blue Cross and Blue Shield has renewed its push to bring online care to the Indiana market, including video. It has asked the state’s Medical Licensing Board to relax a 2003 rule that stands in its way.
Lilly settles Zyprexa marketing suit for $1.4 billion
Indianapolis-based Lilly pleaded guilty to one violation of the Food, Drug and Cosmetic Act on Thursday and agreed to pay $1.42 billion to settle both that criminal charge as well as civil lawsuits in which it did not admit wrongdoing.
New drugmaker code deprives docs of football, lunch for 2
Doctors can still get free samples of medicines, but not football tickets or lunch for their spouses, under a revised code of conduct drafted by a global drug industry trade group that counts Eli Lilly as a member.
Lilly plans 200 jobs at new $440M Ireland plant
Eli Lilly and Co. plans to invest about $440 million in a new pharmaceutical plant at an existing company site in County Cork in southern Ireland. The facility in Kinsale will require as many as 200 skilled employees when fully operational.
SynCare files anticipated bankruptcy
The once fast-growing, Indianapolis-based disease-management company listed in court papers on Tuesday liabilities of nearly $5.7 million and assets of just $125,864.
Economy could lift drug, device firms
The U.S. economy is showing signs of bouncing back and, if it does, look for drugmakers and medical-device companies to benefit. But if the economy has another summer stall like last year, expect health insurers to benefit.
Drugmakers singing same song: 2012 will be tough
For drugmakers, the golden era of the 1990s and early part of the last decade, when they seemed to effortlessly churn out new multibillion-dollar pills for the masses along with double-digit quarterly profit increases, is not even in the rearview mirror any more.