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Lilly stops development on cancer drug after failed study

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Eli Lilly and Co. halted development of an experimental cancer drug after the medicine failed to lengthen survival for certain lymphoma patients in a study.

The decision will result in a charge of $30 million in the second quarter, Indianapolis-based Lilly said in a statement Friday. The drug, enzastaurin, was in the most advanced stage of testing and had been expected to generate $260 million in annual sales by 2018, according to Mark Schoenebaum, an analyst with ISI Group.

Lilly said in April it was expecting to seek U.S. regulatory approval this year for the drug to prevent the relapse of diffuse large b-cell lymphoma, a type of blood cancer. The setback leaves Lilly with four treatments it may be able to bring to market next year. The company needs new drugs to help offset the loss of patent protection later this year on its top-selling product, Cymbalta for depression.

“We are disappointed in the results that we’re announcing today,” said Richard Gaynor, vice president of product development and medical affairs for Lilly’s cancer unit, in the statement. “However, our oncology pipeline is still one of the most robust across the industry.”

Lilly shares were up 20 cents early Friday, to $54.76 each. The stock had gained 32 percent in the 12 months through Thursday.
 

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  1. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

  2. I think perhaps there is legal precedence here in that the laws were intended for family farms, not pig processing plants on a huge scale. There has to be a way to squash this judges judgment and overrule her dumb judgement. Perhaps she should be required to live in one of those neighbors houses for a month next to the farm to see how she likes it. She is there to protect the people, not the corporations.

  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

  4. downtown in the same area as O'malia's. 350 E New York. Not sure that another one could survive. I agree a Target is needed d'town. Downtown Philly even had a 3 story Kmart for its downtown residents.

  5. Indy-area residents... most of you have no idea how AMAZING Aurelio's is. South of Chicago was a cool pizza place... but it pales in comparison to the heavenly thin crust Aurelio's pizza. Their deep dish is pretty good too. My waistline is expanding just thinking about this!

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