Eli Lilly & Co. has filed lawsuits against seven generic drug companies in federal court in Indianapolis, asking a judge to
declare its Cymbalta patent valid and to tell the generic companies to back off.
The 1,230-foot-long mural painted by Eli Lilly and Co. workers in May has been named the largest paint-by-number mural by Guinness World Records. The mural, which stetches along a concrete retaining wall on Madison Avenue south of Lilly’s campus, was painted during a day when 8,400 employees beautified the city by planting trees, cleaning weeds […]
Fifty of ImClone Systems Inc.’s 1,280 employees have been laid off just two weeks after Eli Lilly and Co. closed its acquisition of the New York cancer drug developer, according to New Jersey Business. Nearly half of ImClone’s 70 sales people were eliminated. Most were focused on ImClone’s main drug, Erbitux. Indianapolis-based Lilly paid $70 […]
Generic drug makers drive up the cost of name-brand drugs developed by locally based Eli Lilly and Co. and other pharmaceutical
firms.
Jim Cramer, the host of CNBC’s “Mad Money” television show, said yesterday that Eli Lilly and Co. stock is “one that will help investors sleep at night” because of its 5.2 percent dividend yield, which he called “juicy.” The popular TV host has shied away from Lilly in the past because of the company’s huge […]
Eli Lilly and Co. CEO John Lechleiter played a game of pharmaceutical poker with former Lilly Chief Financial Officer Jim
Cornelius—and won.
The flow of life sciences venture capital tailed off in Indiana last year compared with 2007, but the state still attracted twice as many dollars as in 2006. Hoosier life sciences firms pulled in a combined $75.4 million in venture capital last year, according to data compiled by BioEnterprise, a Cleveland-based life sciences development group, […]
Eli Lilly and Co. could agree as soon as Thursday to pay $1.4 billion to settle criminal and civil charges related to its marketing of antipsychotic drug Zyprexa, according to a story today in the New York Times. The Times cited unnamed sources involved in Lilly’s negotiations with federal Justice Department officials. Indianapolis-based Lilly already […]
A generic drugmaker asked a federal court of appeals Tuesday to lift an order that is preventing it from selling a cheaper copy of Eli Lilly and Co.’s osteoporosis drug Evista, according to Bloomberg News. The order would expire March 9 anyway. That is the same day Indianapolis-based Lilly and the generic company, Israel-based Teva […]
As expected, Eli Lilly and Co. said this morning it has agreed to pay $1.4 billion to settle criminal and civil charges related to its marketing of antipsychotic drug Zyprexa. Indianapolis-based Lilly set aside the money in October in anticipation of a settlement. As part of the criminal investigation, Lilly will plead guilty to a […]
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 […]
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 […]
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 […]
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.
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 […]
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 […]
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 […]
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 […]
Lilly executives want to make biotech their top focus.
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 […]
