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Indianapolis-based Eli Lilly and Co. and other multinational companies are socking away profits in overseas tax shelters and ultimately stripping the U.S. Treasury of about $50 billion annually, according to The New York Times. Last year, Lilly paid only 6 percent of its $3.4 billion in global profits in taxes, the newspaper said. That’s a […]

Charges from two acquisitions caused second-quarter profits at Eli Lilly and Co. to slip. Excluding those expenses and other adjustments, Lilly’s profit zoomed past Wall Street’s estimates. The Indianapolis-based drugmaker earned 90 cents per share, excluding unusual items. Analysts expected 82 cents per share, according to a survey by Thomson Financial. Lilly earned 76 cents […]

A Food and Drug Administration advisory panel has recommended approving Eli Lilly and Co.’s Evista osteoporosis drug for cutting the risk of cancer in post-menopausal women with osteoporosis and post-menopausal women at high risk for breast cancer. The non-binding recommendation follows an announcement from Lilly earlier this month that Evista reduced the risk of certain […]

Emotions in the Seattle area are still raw months after Indianapolis-based Eli Lilly and Co. bought full ownership of Icos Corp. and promptly announced that it would wipe out most of Icos’ 700 jobs. Lilly acquired the Bothel, Wash., maker of the Cialis erectile dysfunction drug for $2.3 billion in December. The massive job loss […]

Eli Lilly and Co. could face the juicy prospect of a $2 billion hole in the diabetes market if the Food and Drug Administration acts on a recommendation from one of its safety scientists. David Graham is set to tell FDA advisers today to pull diabetes pill Avandia from the U.S. market, according to Bloomberg. […]

Eli Lilly and Co.’s depression drug Cymbalta dampened pain in patients with fibromyalgia and has asked the Food and Drug Administration to approve it for secondary use, the Indianapolis pharmaceutical maker said today. Patients experienced less pain beginning a week after taking the treatment, a study showed. Two percent to 4 percent of Americans, mostly […]

A psychiatrist who advises the state of Minnesota on which drugs to use in Medicaid programs received $488,953 in speaking fees from Indianapolis-based Eli Lilly and Co. over eight years through 2006, according to an Associated Press analysis. The fees, received by John E. Simon, have raised questions about whether Simon was influenced to recommend […]

Indianapolis-based Eli Lilly and Co. paid more money-$11 million-to Minnesota doctors, nurses and medical foundations than any other drug company between 2002 and 2004, according to the Pioneer Press of St. Paul, Minn. The report is based on Minnesota’s strict disclosure law. Only Maine and Vermont have similar laws requiring pharmaceutical companies to open books […]

After testing a new kind of wellness program at Eli Lilly and Co., WellPoint Inc. is offering the broad program to all national employers served by its Anthem subsidiary. WellPoint touts its Healthy Lifestyles program as a help to employers trying to get their workers to make healthy behavior changes in five key areas: tobacco […]