IBJNews

Lilly drops inhaled-insulin project

J.K. Wall
March 7, 2008
Keywords
Back to TopCommentsE-mailPrintBookmark and Share

Eli Lilly and Co. confirmed this evening that it will abandon its inhaled insulin program, citing increased uncertainties about its commercial potential and the regulatory environment.

The decision will cost Lilly $90 million to $120 million, or from 5 to 7 cents per share. The Indianapolis-based drugmaker now expects to per-share profit of $3.73 to $3.90 this year.

Lilly's partner on inhaled insulin, Massachusetts-based Alkermes Inc., announced this morning that it expected Lilly to cancel the program next week.

Lilly will halt its worldwide Phase 3 clinical trial of inhaled insulin, which included patients with type 1 and type 2 diabetes. Patients will be switched to other insulin therapies. Lilly will pay for those therapies for all U.S. patients, and is considering similar support for non-U.S. patients.

"This decision, though difficult, is the right one to make at this time," said John Lechleiter, Lilly's president and chief operating officer, in a written statement. He said the company conducted a "thorough review" of its inhaled insulin program over the last few months.

Lilly was one of three major drugmakers that tried to develop inhaled insulin as a more attractive alternative to standard injected insulin. Diabetic patients already spend $7 billion a year on insulin, and the worldwide prevalence of diabetes is expected to double by 2030.

But the first inhaled insulin product on the market, Pfizer Inc.'s Exubera, failed miserably. Sales never took off, as patients and doctors complained about Exubera's bulky delivery device. In October, New York-based Pfizer gave its rights to Exubera back to its development partner, Nektar Therapeutics, and took a $2.8 billion charge. It also put 600 workers at its Exubera factory in Terre Haute on paid leave.

In January, Denmark-based Novo Nordisk A/S discontinued its inhaled insulin program, a partnership with Aradigm Corp.

As recently as January, Lilly officials said they planned to submit their inhaled insulin product for regulatory approval in 2009.

One small company, California-based MannKind Corp., is still trying to develop inhaled insulin. But it has no larger company lined up to help it sell the product to doctors, if it receives regulatory approval.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. By the way, the right to work law is intended to prevent forced union membership, not as a way to keep workers in bondage as you make it sound, Italiano. If union leadership would spend all of their funding on the workers, who they are supposed to be representing, instead of trying to buy political favor and living lavish lifestyles as a result of the forced membership, this law would never had been necessary.

  2. Unions once served a noble purpose before greed and apathy took over. Now most unions are just as bad or even worse than the ills they sought to correct. I don't believe I have seen a positive comment posted by you. If you don't like the way things are done here, why do you live here? It would seem a more liberal environment like New York or California would suit you better?

  3. just to clear it up... Straight No Chaser is an a capella group that formed at IU. They've toured nationally typically doing a capella arangements of everything from Old Songbook Standards to current hits on the radio.

  4. This surprises you? Mayor Marine pulled the same crap whenhe levered the assets of the water co up by half a billion $$$ then he created his GRAFTER PROGRAM called REBUILDINDY. That program did not do anything for the Ratepayors Water Infrastructure Assets except encumber them and FORCE invitable higher water and sewer rates on Ratepayors to cover debt coverage on the dough he stole FROM THE PUBLIC TRUST. The guy is morally bankrupt to the average taxpayer and Ratepayor.

  5. There is no developer on the planet that isn't aware of what their subcontractors are doing (or not doing). They hire construction superintendents. They have architects and engineers on site to observe construction progress. If your subcontractor wasn't doing their job, you fire them and find someone who will. If people wonder why more condos aren't being built, developers like Kosene & Kosene are the reason. I am glad the residents were on the winning end after a long battle.

ADVERTISEMENT