Wall Street analysts on Thursday demanded to know what new things Eli Lilly and Co. is planning since the company’s vaunted pipeline has failed to produce a drug that will boost revenue after a wave of patent expirations. The answer: Not much.
The Indianapolis-based drugmaker reported a profit of $1.3 billion in the quarter ended Sept. 30, up 38 percent compared with last year. Excluding extraordinary items from a year ago, Lilly’s profit was up 2 percent.
Eli Lilly and Co. and its development partner said an experimental diabetes treatment failed to help patients in a late-stage study, the second setback for a Lilly diabetes drug candidate in two days.
Stock in Eli Lilly and Co., Amylin Pharmaceuticals Inc. and Alkermes Inc. dropped after they were rebuffed a second time in a bid to gain U.S. approval of a once-weekly version of the diabetes drug Byetta.
Eli Lilly and Co. will have to wait at least 18 months and conduct more studies before it wins market approval of a once-weekly version of diabetes drug Byetta, a potential billion-dollar drug.
Indianapolis-based Eli Lilly and Co. will close its drug discovery center in Singapore, three years into a five-year, $150 million plan to expand it.
Eli Lilly and Co.’s “miss” on a new use for its cancer drug Alimta was a rare failure to get an existing drug approved for a new use—even though the company has struggled mightily to get entirely new drugs to market.
In combination with chemotherapy, the drug failed to help colon-cancer patients in a European trial but did delay the spread of breast cancer in some patients with a certain type of aggressive tumor.
To date, most analysts say health reform turned out pretty well for the pharmaceutical industry. But a detailed analysis by Deloitte Consulting says the indirect effects of reform will deliver a gut punch to the industry that will lead to full-scale transformation akin to what the telecommunications world has seen over the past three decades.
Drugmakers including Pfizer Inc., AstraZeneca, Bristol-Myers Squibb Co. and Eli Lilly and Co. may provide more than $2 billion in drug discounts to senior citizens next year under a deal pharmaceutical companies made with the White House.
Celesio’s Lloyds Pharmacy and Aah Pharmaceuticals businesses sold about 800,000 tablets of generic Zyprexa before agreeing in 2008 to halt sales, Lilly said in a complaint filed in the High Court in London.
Eli Lilly and Co. launched its own blog this month, dubbed LillyPad, to try to start discussions about public policy and corporate social responsibility. The Indianapolis-based drugmaker also launched an accompanying Twitter feed.
A U.S. appeals court in New York threw out a September 2008 ruling that said plaintiffs could pursue as a group claims that Zyprexa marketing caused them to pay more for the drug than what it was worth. The plaintiffs were seeking $6.8 billion in damages.
Botox maker Allergan Inc. said it would pay $600 million to settle a years-long federal investigation into its marketing of the drug. Indiana will get $636,000 of that money.
Eli Lilly and Co. won a court ruling Wednesday that blocks plans by Teva Pharmaceutical Industries Ltd. to sell a generic version of the Evista osteoporosis treatment before March 2014.
The U.S. Court of Appeals for the Federal Circuit in Washington on Tuesday granted Lilly’s request to prevent sales until the court rules on a judge’s decision invalidating a patent on the medicine.
Strattera generated U.S. sales of $445.6 million last year, and each day that Lilly can fend off generic competition would
translate into an average $1.22 million in sales.
Diabetics who control their disease with pills instead of frequent insulin injections can thank Dr. William R. Kirtley, a
groundbreaking Eli Lilly researcher.
Two former Eli Lilly and Co. employees launched the firm that promises to attract more clinical trial business to the state.
Outside advisers to the Food and Drug Administration voted 8-6 Thursday in favor of a broader use of Cymbalta on the basis
of studies in lower back pain and osteoarthritis of the knee.
