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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. Now if he'd just stay there...

  2. Daniel - what about the many US citizens who do NOT follow what the Bible teaches? The Hindus, Jews, Muslims and others who are all American citizens entitled to all rights as Americans?? This issue has NOTHING to do with "What the Bible says..." Keep all Churches separate from State! Pence's ongoing idiocy continues to make Indiana look like a backwards, homophobic state in the eyes of our nation. Can't we move on to bigger issues - like educating our kids?

  3. 1. IBJ should link to the referenced report. We are in the age of electronic media...not sharing information is lazy. Here is a link http://www.in.gov/gov/files/Blue_Ribbon_Panel_Report_July_9_2014.pdf 2. The article should provide more clarity about the make-up of this panel. The commenters are making this item out to be partisan, it does not appear the panel is partisan. Here is a list of the panel which appears to be balanced with different SME to add different perspectives http://www.in.gov/activecalendar/EventList.aspx?view=EventDetails&eventidn=138116?formation_id=189603 3. It suggests a by-pass, I do not see where this report suggests another "loop". 4. Henry, based on your kneejerk reaction, we would be better off if you moved to another state unless your post was meant as sarcasm in which case I say Well Done. 5. The article and report actually indicates need to improve rail and port infrastructure in direct contradiction to Shayla commentary. Specifically, recommendation is to consider passenger rail projects... 6. People have a voice with their elected officials. These are suggestions and do not represent "crony capitalism", etc. The report needs to be analyzed and the legislature can decide on priorities and spending. Don't like it, then vote in a new legislature but quit artificially creating issues where there are none! People need to sift through the politics and provide constructive criticism to the process rather than making uninformed comments in a public forum based on misinformation. IBJ should work harder to correct the record in these forums when blatant errors or misrepresentations are made.

  4. Joe ... Marriage is defined in the Bible ... it is mentioned in the Bible often. Marriage is not mentioned once in the US or Indiana Constitution ...

  5. Daniel - Educate me please: what does the Bible have to do with laws? If the government wasn't in the business of marriage to begin with, then it wouldn't have to "define" marriage at all. Marriage could be left as a personal, religious, or otherwise unregulated action, with no ties to taxes, legal status, etc. Then people could marry whomever they want, and all this silliness would go away. Remember to vote Libertarian in November.

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