Health Care Businesses

Lilly buys ImClone as part of strategy to capitalize on cancer-drug marketRestricted Content

October 13, 2008
J.K. Wall

Eli Lilly and Co. has written a $6.5 billion IOU to acquire the cancer drugs of ImClone Systems Inc. Cancer drugs are now the best-selling class of drugs in the world and one of the fastest growing.


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Lilly taps hedge fund to cut research costs for Alzheimer's drugsRestricted Content

August 11, 2008
J.K. Wall

Eli Lilly and Co.'s unorthodox efforts to develop new treatments for Alzheimer's disease--if successful--could usher in a new approach to drug development. The Indianapolis-based pharmaceutical company announced that a New York hedge fund, TPG-Axon Capital, will invest up to $325 million to help cover the exorbitant development costs of two experimental compounds to treat Alzheimer's disease.

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Lilly expects FDA approval of long-acting version of ZyprexaRestricted Content

February 4, 2008
J.K. Wall
Eli Lilly and Co. hopes to extend the life of its best-seller Zyprexa with a potentially lucrative, long-acting form of the antipsychotic drug. But first, the Indianapolis-based drugmaker must win over a panel of medical experts convened by the U.S. Food and Drug Administration on Feb. 6.
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Taurel passes the batonRestricted Content

December 31, 2007
J.K. Wall
A new leader will guide the city's largest company in 2008, with some of the biggest challenges in its history on the horizon. Eli Lilly and Co. announced Dec. 18 that CEO Sidney Taurel will step down March 31 and will be replaced by President John C. Lechleiter, who has been the heir apparent for more than two years.
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Taurel helped Lilly weather Prozac defeat, but he also stumbledRestricted Content

December 24, 2007
J.K. Wall
When Eli Lilly and Co. CEO Sidney Taurel announced his retirement Dec. 18, he said he was leaving the company in good shape. And he can cite plenty of evidence to support him. But when Taurel steps down as CEO March 31, he also will leave a legacy of a languishing stock price and some costly mistakes that some think could have been avoided. "The facts are the facts; I guess you can't ignore it. The stock price has been...
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New Lilly CEO called analytical, 'incredibly warm'Restricted Content

December 24, 2007
J.K. Wall
John C. Lechleiter, whom Eli Lilly and Co.'s board voted to replace Sidney Taurel as CEO, is known for getting things done and yet also for being good at analysis and relating to people under him. Taurel will step down at the end of March but remain chairman until the end of 2008.
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Lilly's plan to outsource more work is good news, bad newsRestricted Content

December 17, 2007
J.K. Wall
Eli Lilly and Co. will shrink itself with "great intensity" over the next few years, in part by outsourcing. For other local life sciences firms, that's a fat pitch for new business. But it's not clear if non-Lilly firms can grow fast enough to offset the jobs and wages Indianapolis will lose from Lilly.
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Lilly under gun to replace aging blockbuster ZyprexaRestricted Content

November 5, 2007
J.K. Wall
There's a $2 billion hole in Eli Lilly and Co.'s future. That's roughly how much pretax profit Lilly derives each year from its best-seller, Zyprexa, according to calculations by IBJ. And it's how much black ink will start running off Lilly's books once Zyprexa's U.S. and European patents expire in 2011.
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