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Lilly diabetes pill recommended for EU approval

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Eli Lilly and Co. and Boehringer Ingelheim GmbH’s Trajenta medicine for Type 2 diabetes has been recommended for approval in Europe, putting the drug on track to enter the region’s market this year.

The European Medicines Agency’s Committee for Medicinal Products for Human Use said Trajenta should be used in patients whose diabetes can’t be controlled by diet and exercise alone and who can’t take the older medication metformin, Boehringer said in a statement Friday.

Known chemically as linagliptin, the pill was approved in May by regulators in the U.S., where it’s marketed under the spelling Tradjenta. The drug is among four diabetes treatments Indianapolis-based Lilly and Ingelheim, Germany-based Boehringer agreed in January to develop and sell jointly, sharing equally in costs and margins from the products.

The drug can be an “important new treatment option” for patients with Type 2 diabetes, Enrique Conterno, president of Lilly’s diabetes division, said in the prepared statement.

The Boehringer partnership may contribute to earnings by 2014, Lilly said when the deal was announced. Sales of each drug may be about $2.84 billion, and combined peak sales may reach $14.2 billion, Engelbert Tjeenk Willink, the Boehringer executive responsible for human pharmaceutical products’ sales and marketing, said at the time.

More than 220 million people worldwide have diabetes, and about 90 percent have the Type 2 version, according to the World Health Organization. Obese people are among the most at risk for the disease, which prevents the body from using insulin properly to control blood glucose levels. Left untreated, Type 2 diabetes can lead to heart attack, stroke and blindness.

The European Medicines Agency, based in London, provides initial regulatory authorization for treatments from companies seeking regionwide approval in all European Union countries plus Iceland, Liechtenstein and Norway. The European Commission, the EU’s executive arm, gives final approval based on the agency’s recommendation.

Lilly stock fell 29 cents Friday morning, to $36.90 per share.

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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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