Elanco, the animal health division of Eli Lilly and Co., has agreed to acquire Jannsen Animal Health, a subsidiary of New Jersey-based Johnson & Johnson, pending regulatory approval. Financial terms of the deal were not disclosed.
The failure of its drug Bydureon to match the performance of Novo’s Victoza trims but doesn’t kill sales prospects for the highly touted diabetes drug.
Bydureon, the diabetes drug being developed by Amylin Pharmaceuticals Inc., Eli Lilly and Co. and Alkermes Inc., didn’t control the disease better than Novo Nordisk A/S’s Victoza in a study.
Advion BioServices is expected to open the lab at Purdue Research Park in Indianapolis in May with 49 employees. Some of the workers may come from Eli Lilly and Co., which is moving its drug-discovery bioanalytical operations to Advion as part of a partnership.
Now that financing for Buckingham Cos.’ massive project has the city’s blessing, the local developer is turning its full attention to construction of the 14-acre, mixed-use complex.
A complaint filed Wednesday by the U.S. government says Lilly’s plant on South Harding Street is emitting high levels of acetonitrile and methanol, considered hazardous air pollutants by the EPA.
David Bredt, vice president of neuroscience research, has resigned “to pursue other opportunities,” according to Lilly spokeswoman Judy Kay Moore. Bredt had overseen Lilly’s development of various drugs, including molecules in late-stage human testing to treat Alzheimer’s and depression.
Indianapolis-based Lilly is developing what it calls “The Mirror Portfolio,” which it expects to grow to 45 to 60 drugs in five years. This month, Lilly announced it had secured venture-capital funding for the first two drugs in this alternative pipeline.
In a kind of alternate drug universe, sales of Eli Lilly and Co.’s ghosts of blockbusters past are soaring in China—prompting the drugmaker to pour money into emerging markets in an attempt to prop up revenue.
Eli Lilly and Co. on Friday named company insider Sue Mahony as president of its cancer drug business.
The effort to remove an 80-percent approval threshold for takeover bids against the wishes of Lilly’s board is on the agenda of the company’s April 18 annual meeting.
Eli Lilly and Co. can be credited with using acquisitions to unclog its product pipeline. It launched two drugs in the past 18 months, won market approval for a third and will likely get nods for two more drugs this year. Trouble is, they all have paltry sales prospects.
Eli Lilly and Co.’s PD2 project attracted 30,000 compounds from researchers in 26 countries. And Lilly scientist Alan Palkowitz said it’s just the first of many such collaborations.
A technicality caused the City-County Council on Monday night to put off a final vote on the massive North of South mixed-use project slated to be built on 14 acres north of the Eli Lilly and Co. corporate campus.
Eli Lilly and Co. Chairman and CEO John Lechleiter received compensation valued at $12.7 million last year, down 22 percent from 2009 largely due to a change in how the drugmaker handles equity awards.
Compensation for Eli Lilly and Co.’s top executives fell last year due to a change to its stock award program and as the company struggled to bring new medicines to market.
Cymbalta racked up $3.5 billion in sales last year, and some analysts say it may approach $5 billion before generic competition arrives in 2013.
Eli Lilly and Co. and Bristol-Myers Squibb Co. stopped enrolling new patients in a clinical trial of an experimental lung cancer drug over concerns about patients developing blood clots.
Sanofi-Aventis’s experimental diabetes drug lixisenatide, given to volunteer patients once a day, was at least as effective as Eli Lilly and Co. and Amylin Pharmaceuticals Inc.’s twice-daily medicine Byetta, a study found.
The Indianapolis-based drugmaker earned $1.2 billion in the quarter, compared with $915 million in the same period a year ago. Profit per share beat Wall Street forecasts by a penny.
