Are we victims of ‘group think’?
“Group think,” a powerful and controlling force, was present as the Capital Improvement Board built Lucas Oil Stadium and Eli Lilly and Co. developed and marketed Zyprexa.
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Mall backers may take hit-WEB ONLY
A group of mostly local companies that made big investments to help launch Circle Centre mall soon could be asked to write off a portion of profits they agreed to redirect into the construction of Conseco Fieldhouse. The Capital Improvement Board has floated the possibility of asking the 13 investors-including Conseco, American United Life, Duke […]
Dow may need to sell agro biz-WEB ONLY
Financially strapped Dow Chemical Co. acknowledges it may sell Indianapolis-based Dow AgroSciences LLC, the ag-chemicals-and-biotech firm that’s one of the biggest jewels in the city’s life sciences crown. Dow Chemical CEO Andrew Liveris said on a Feb. 3 conference call with analysts that the Midland, Mich.-based company has teams working with investment banks to evaluate […]
Lilly accused of price-fixing in Switzerland-WEB ONLY
Three of the world’s largest drugmakers, including Indianapolis-based Eli Lilly and Co., are being accused of fixing prices for erectile dysfunction drugs in Switzerland, according to Bloomberg News. Lilly, Pfizer Inc. and Bayer AG, rivals in the male impotence-drug market, fixed prices in Switzerland and should be punished, a panel of the Swiss Competition Commission, […]
Lilly, Pfizer spend millions on murky illness-WEB ONLY
Two drug companies, Pfizer Inc. and Eli Lilly and Co., spent hundreds of millions of dollars last year to raise awareness of a murky illness, helping boost sales of pills recently approved as treatments and drowning out unresolved questions – including whether it’s a real disease at all. Key components of the industry-funded buzz over […]
Health care interests wary of state’s cost-cutting idea for Medicaid
Indiana Medicaid officials want to take over management of all its patients’ prescription drugs because they say it could save the state as much as $40 million a year.
Lilly CEO compensation rises to $10.8M-WEB ONLY
Eli Lilly and Co. CEO John C. Lechleiter saw his compensation spike nearly 28 percent in 2008 as he took over the top job at the Indianapolis-based drugmaker. Lechleiter received $10.8 million in salary, bonus, stock and perks during the year, according to a preliminary proxy statement filed today by Lilly with the U.S. Securities […]
FDA probes Lilly blood-poisoning treatment-WEB ONLY
Federal health regulators are looking into evidence that an Eli Lilly and Co. drug used to treat blood poisoning worsens the risk of bleeding and can lead to death in certain patients. The Food and Drug Administration said today a recently published study showed that the Indianapolis-based company’s drug Xigris increased the risk of dangerous […]
FDA panel clears path for Lilly’s prasugrel-WEB ONLY
A panel of government health experts yesterday said a highly anticipated Eli Lilly and Co. blood thinner marks a significant advance over older treatments and should be approved. The nine members of the Food and Drug Administration’s cardiology advisory group unanimously voted in favor of the company’s anti-clotting drug prasugrel, saying it should be approved […]
Lilly’s prasugrel gets FDA advisory panel OK-WEB ONLY
Eli Lilly and Co. has won the unanimous backing of an advisory panel to introduce the first rival to the blood-thinner Plavix, the world’s No. 2-selling drug, Bloomberg News reported. Advisers to the U.S. Food and Drug Administration voted 9-0 today in Silver Spring, Md., that Lilly’s blood thinner prasugrel should be approved to reduce […]
Mixed news for Lilly drug pipeline-WEB ONLY
Eli Lilly and Co. got good news and bad news Friday. The same day U.S. regulators recommended Lilly’s blood thinner prasugrel for market approval, one of the Indianapolis pharmaceutical company’s partners reported poor clinical results for one of its most promising drugs. Canada-based BioMS Medical Corp. said its lead drug for treating relapse remitting multiple […]
Biotech push may help offset generic competition; some analysts skeptical
Lilly executives want to make biotech their top focus.
Lilly’s new twist-WEB ONLY
To survive in an uncertain future, Eli Lilly and Co. needs drugs that develop faster and cheaper and that perform better. Biotech drugs, Lilly executives insist, fit that bill. That’s why Lilly shelled out $6.5 billion to buy the biotech fi rm ImClone Systems Inc. in November, six months after it opened its own $1 […]
UPDATE: Lilly still eyeing deals despite loss-WEB ONLY
Even after Eli Lilly and Co. wiped out its 2008 profit to buy ImClone Systems, CEO John Lechleiter said his company still has plenty of powder for more purchases. But Lechleiter said he has no plans to do a mega-deal on par with Pfizer Inc.’s acquisition of Wyeth, announced this week. Instead, Lechleiter wants to […]
Lilly still eyeing deals despite ImClone hit-WEB ONLY
Even after Eli Lilly and Co. wiped out its 2008 profit to buy ImClone Systems, CEO John Lechleiter said his company still has plenty of powder for more purchases. But Lechleiter said he has no plans to do a mega-deal on par with Pfizer Inc.’s acquisition of Wyeth, announced this week. Instead, Lechleiter wants to […]
ImClone deal hurt Lilly’s fourth quarter-WEB ONLY
Eli Lilly and Co. posted a $3.6 billion fourth-quarter loss because of its $6.5 billion acquisition of New York-based ImClone Systems Inc. Not counting that deal, however, Lilly’s profits beat the expectations of Wall Street analysts by two cents per share. Indianapolis-based Lilly earned $1.07 per share excluding the ImClone purchase. Analysts were expecting $1.05 […]
Financial crisis, recession hammer deal flow
Companies searching for a merger or acquisition partner had one heck of a time finding a match last year. Place much of the
blame on the credit crunch that rattled the nation’s economy and sent deal-making into a downward spiral.Lilly crosses one Zyprexa hurdle, faces another-WEB ONLY
On the same day last week, Eli Lilly and Co. cleared a big hurdle regarding its bestselling drug Zyprexa and immediately found itself facing another one. Lilly paid dearly – $1.42 billion – for pleading guilty to improperly marketing the antipsychotic Zyprexa between 1999 and 2001 and to settle lawsuits filed by states. But that […]
Carmel startup lands $12M-WEB ONLY
A Carmel startup that hopes to research drug components here and make them in China has just raised $12 million in venture capital-despite the recession and a deep freeze in financial markets. The founder of 2-year-old Waterstone Pharmaceuticals Inc. is Chinese native Faming Zhang, 44, a former Eli Lilly and Co. executive and Indiana University […]
UPDATE: Lilly settles Zyprexa lawsuits-WEB ONLY
Eli Lilly and Co.’s guilty plea for improper marketing of Zyprexa is its second such plea in just over three years.Indianapolis-based Lilly pleaded guilty to one violation of the Food, Drug and Cosmetic Act on Thursday and agreed to pay $1.42 billion to settle both that criminal charge as well as civil lawsuits in which […]