If it withstands appeals, the deal will resolve a mountain of 3,000 lawsuits from state and local governments, Native American tribes, unions and others that accuse the company of helping to spark the overdose epidemic.
Last week, U.S. health officials announced plans to give COVID-19 booster shots to all Americans to shore up their protection amid the surging delta variant of the coronavirus.
The U.S. becomes the first country to fully approve the shot, according to Pfizer, and CEO Albert Bourla said he hoped the decision “will help increase confidence in our vaccine, as vaccination remains the best tool we have to help protect lives.”
President Joe Biden stepped up his battle over drug costs on Thursday, calling on Congress to pass legislation that would let Medicare negotiate directly with pharmaceutical manufacturers and penalize drugmakers that increase prices faster than inflation.
Shares of the Greenfield-based maker of animal feeds and vaccines dove after the firm warned that it’s facing inflationary pressures, increased logistics costs and other headwinds.
Eli Lilly and Co. turned in a profitable second quarter, but the results were shy of Wall Street analyst predictions. The drugmaker, however, saw revenue growth that topped Wall Street expectations.
Eli Lilly and Co. passed up the chance to develop a vaccine and instead focused on making antibody treatments for patients who were already infected with the coronavirus. That turned out to be a financial whiff. Now all eyes will be on Lilly’s second-quarter earnings, which the company will release early Tuesday.
A federal official predicted that authorization of a coronavirus vaccine for children 5 through 11 might come by late October or early November.
Local governments currently litigating, such as Indianapolis, were provided the ability to opt out of the state’s opioid plan. Those local governments have the opportunity to opt back in within 60 days of opting out, according to the attorney general’s office.
The national settlement is expected to be the biggest single settlement in the complicated universe of litigation over the opioid epidemic in the United States. It won’t end the cases, but it would change them.
Even as some drugmakers, including Indianapolis-based Eli Lilly and Co., are pushing to get experimental drugs approved, federal regulators are still dealing with a huge blowback over the controversial way they reviewed a new Alzheimer’s drug by rival Biogen.
A new report submitted to the Indiana Legislative Council calls for the regulation of “white bagging,” a practice that requires hospitals to buy drugs from an outside pharmacy, which delivers them premixed ahead of time of the patient’s visit. It is a growing practice, aimed at lowering the cost of care, but many providers say it can compromise care.
The company said it was scheduled to have the meeting with the Food and Drug Administration and other officials Monday, days after Pfizer asserted that booster shots would be needed within 12 months.
The narrower label means the drug might be offered to 1 million or 2 million Alzheimer’s patients, rather than the more than 6 million people with Alzheimer’s in the United States.
The collaboration could be worth as much as $694 million and potential royalties to Verge Genomics if the two companies hit development milestones.
The agreement from multiple state attorneys general, including those who had most aggressively opposed Purdue’s original settlement proposal, was disclosed late Wednesday.
The radiopharmaceutical developer and manufacturer is the latest in a string of life sciences firms that have announced plans to grow operations in Fishers.
The role of the sticky substance in the brain has long divided researchers and is at the forefront again amid the FDA’s recent clearance of the first drug to treat the disease in almost two decades.
Drugmaker Biogen has until 2030 to complete a study confirming whether its new drug Aduhelm truly slows the brain-destroying disease. That’s under the terms of the Food and Drug Administration’s conditional approval of the drug.
Eli Lilly and Co. shares jumped more than 9% Thursday morning after it received “breakthrough therapy” designation for donanemab from the U.S. Food and Drug Administration, putting the drug on a path that could expedite its development.
