Lilly, GE announce cancer diagnostic breakthrough
Eli Lilly and Co. and General Electric Co. say they’ve made a breakthrough in cancer research that could help Lilly cut the size and cost of its clinical trials.
Drug discovery
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Endocyte receives $26M infusion from investors
West Lafayette-based Endocyte Inc. announced Friday that it has closed on $26 million in equity financing to help the company
continue developing cancer-fighting drugs.
Lilly’s win in Evista patent case crucial, analyst says
A decision by a federal judge in Indianapolis to turn back a patent challenge to Eli Lilly and Co.’s Evista marks a major
victory for the company, says an analyst who closely follows the pharmaceutical industry.
Lilly sells constipation drug to Adolor
Biotechnology company Adolor Corp. said yesterday that it bought exclusive worldwide rights to Eli Lilly and Co.’s OpRA
III drug candidate, which has a range of potential uses.
UPDATE: Pipeline challenges force Lilly restructuring moves
Since John Lechleiter was named CEO 18 months ago, he’s bet that Eli Lilly and Co. could face down its looming patent challenges
by launching innovative new medicines. Today’s announcement of 5,500 job cuts by the end of 2011 and a restructuring of the
company’s business units ups the ante on that bet, while indicating that it isn’t working yet.
Lilly reorganization to cut 5,500 positions over 2 years
Eli Lilly and Co. will cut 5,500 jobs by the end of 2011 as it tries to cut $1 billion in expenses before it loses revenue
from its bestselling drug, Zyprexa. Lilly CEO John Lechleiter said he did not know how many of those cuts would occur in central
Indiana. But with
13,600 employees working in the Indianapolis area, he acknowledged the largest chunk of reductions likely would come here.
Lilly drops osteoporosis pipeline drug
Eli Lilly and Co. pulled the plug on yet another drug in its pipeline that was in the late stages of testing, further complicating
the company’s attempts to find revenue before losing patent protection on its bestseller.
Lilly’s Effient launch just one of its many challenges
Eli Lilly and Co. has blasted past analysts’ earnings projections for two straight quarters. But if Lilly officials
take that as a sign they can breathe easier, they need only flip through a stack of Wall Street research reports on the company.
Lilly cancels trials for experimental MS drug
Eli Lilly and Co. and a development partner has canceled clinical trials on an experimental drug to treat multiple sclerosis
after the drug failed to delay progression of the disease in trial patients.
Professors go online to revolutionize drug discovery
Two chemistry professors at IUPUI are laboring to create the McDonald’s of research laboratories—low-cost and all over the world.
With Byetta’s sales stalled, Lilly unveils its own competitor
While Eli Lilly and Co. continues to work with a biotech firm on the diabetes medicine Byetta, it’s developing a potential
competitor to Byetta all on its own.
Lilly buys ImClone as part of strategy to capitalize on cancer-drug market
Eli Lilly and Co. has written a $6.5 billion IOU to acquire the cancer drugs of ImClone Systems Inc. Cancer drugs are now
the best-selling class of drugs in the world and one of the fastest growing.
Lilly taps hedge fund to cut research costs for Alzheimer’s drugs
Eli Lilly and Co.’s unorthodox efforts to develop new treatments for Alzheimer’s disease–if successful–could usher in
a new approach to drug development. The Indianapolis-based pharmaceutical company announced that a New York
hedge fund, TPG-Axon Capital, will invest up to $325 million to help cover the exorbitant development costs
of two experimental compounds to treat Alzheimer’s disease.
Lilly still breathing in inhaler pursuit
Pfizer Inc.’s new inhaled insulin product, Exubera, has stumbled out of the gate. That would appear to keep the door open
for Eli Lilly and Co., as well as for other companies racing to develop inhaled insulin. But Pfizer’s troubles might cause
doctors and patients to sour on all inhaled insulin products.
Lilly decides to self-insure for product liability
Eli Lilly and Co. has picked an insurer it knows extremely well to cover future problems in the high-stakes world of product liability litigation–itself. The Indianapolis drugmaker opted for self-insurance after struggling to find coverage in what it terms a “very restrictive insurance market.”