Eli Lilly and Co. and its development partner said an experimental diabetes treatment failed to help patients in a late-stage study, the second setback for a Lilly diabetes drug candidate in two days.
Stock in Eli Lilly and Co., Amylin Pharmaceuticals Inc. and Alkermes Inc. dropped after they were rebuffed a second time in a bid to gain U.S. approval of a once-weekly version of the diabetes drug Byetta.
Eli Lilly and Co. will have to wait at least 18 months and conduct more studies before it wins market approval of a once-weekly version of diabetes drug Byetta, a potential billion-dollar drug.
Indianapolis-based Eli Lilly and Co. will close its drug discovery center in Singapore, three years into a five-year, $150 million plan to expand it.
To date, most analysts say health reform turned out pretty well for the pharmaceutical industry. But a detailed analysis by Deloitte Consulting says the indirect effects of reform will deliver a gut punch to the industry that will lead to full-scale transformation akin to what the telecommunications world has seen over the past three decades.
Lilly remains disinterested in making big acquisitions and aims to rely on the company’s own pipeline, CEO John Lechleiter said Tuesday, re-emphasizing a strategy he has outlined several times in the past year.
The U.S. Court of Appeals for the Federal Circuit in Washington on Tuesday granted Lilly’s request to prevent sales until the court rules on a judge’s decision invalidating a patent on the medicine.
Strattera generated U.S. sales of $445.6 million last year, and each day that Lilly can fend off generic competition would
translate into an average $1.22 million in sales.
Venture capitalists in Indiana and nationally have thrown money at the company with abandon. Local investors include CID Capital,
Clarian Health Ventures and the Indiana Future Fund.
Diabetics who control their disease with pills instead of frequent insulin injections can thank Dr. William R. Kirtley, a
groundbreaking Eli Lilly researcher.
Two former Eli Lilly and Co. employees launched the firm that promises to attract more clinical trial business to the state.
Outside advisers to the Food and Drug Administration voted 8-6 Thursday in favor of a broader use of Cymbalta on the basis
of studies in lower back pain and osteoarthritis of the knee.
The company, headquartered at Purdue Research Park, said the number of shares to be offered and their price range have yet
to be determined.
A dozen potential products designed to slow or stop clumps of protein from forming in the brain, a condition linked to the
disease since 1906, have failed in mid- to late-stage testing since 2003.
Copenhagen-based health-care company Ascendis Pharma A/S received offers of about $400 million, an unidentified source said.
Ascendis may choose a final bidder by early September.
Drugmakers testing experimental Alzheimer’s medicines—including Eli Lilly and Co.—got good news last week
when the National Institute on Aging and the Alzheimer’s Association proposed new guidelines to make earlier diagnoses
of the disease.
Both of Lilly’s late-stage treatments are designed to reduce plaque in the brain called beta amyloid, thought by researchers
to be a main contributor to Alzheimer’s. A drug that stops or reduces memory loss caused by Alzheimer’s may be worth more
than $5 billion
a year, an analyst says, helping Lilly overcome the coming patent losses on several important pharmaceuticals.
Eli Lilly and Co. is launching a diagnostics division to produce tests that can winnow out the patients most likely to benefit
from a Lilly drug.
The two companies will jointly develop a short-acting glucagon drug, which they hope proves more convenient than Lilly’s
current Glucagon for patients with severe hypoglycemia.
Roche Holding AG’s decision to postpone its experimental diabetes drug is helping boost shares in Amylin Pharmaceuticals
Inc. and drug partner Eli Lilly and Co.
