After years of pipeline failures, Eli Lilly and Co. is on a bit of a hot streak. This month alone, the Indianapolis-based drugmaker has reported positive results from clinical trials of four experimental drugs.
Increasingly, top researchers are questioning whether drugs such as Lantus from Sanofi, Levemir and Novolog from Novo Nordisk A/S, and Humalog from Eli Lilly and Co. are really needed for many patients.
Lartruvo shouldn’t be started in new patients, and those patients already taking it should ask their doctors if they should continue, U.S. regulators said, following a key study that failed to show the medicine prolonged lives.
The West Lafayette biotech firm's stock traded as low as $1.41 last fall, following multiple setbacks and restructurings. But the stock had soared to $24 Thursday morning after news that it would be acquired by Novartis.
The company, which employs more than 3,000 on the northeast side, has been struggling on the diabetes side of its business. To bounce back, it is investing heavily in diagnostics, and is working to commercialize several products it hopes will be game-changers.