Indianapolis-based WellPoint Inc., the largest U.S. health insurer by enrollment, will favor a copy of the blockbuster cholesterol medication made by Watson Pharmaceuticals Inc., the insurer said.
On Oct. 24, the U.S. Food and Drug Administration approved the first generic versions of Eli Lilly and Co.’s best-seller, ending 15 years of highly lucrative sales.
Federal health officials on Monday approved the first generic versions of the blockbuster drug Zyprexa, which posted sales of $5.7 billion last year for Indianapolis-based drugmaker Eli Lilly and Co Inc.
Lilly’s patent-loss challenges—the biggest of which takes effect today—will force the company to rely even more on its 1,300 Indiana vendors.
The U.S. Court of Appeals for the Federal Circuit in Washington, D.C., overturned Friday a judge’s decision that Lilly’s patent on attention-deficit treatment Strattera was invalid.
An investment firm projects that the Elanco animal-health business will generate sales of nearly $2 billion by 2012 and surpass $3 billion by 2018.
Eli Lilly and Co., the Indianapolis-based drugmaker whose best-selling schizophrenia medicine Zyprexa survived a patent challenge in Britain two years ago, has asked a United Kingdom judge to reject a parallel lawsuit by a generic drug company.
Lilly has 33 drugs in the second and third stages of clinical trials, including medicines for cancer, diabetes and Alzheimer’s disease, up from seven in 2005, the Indianapolis-based company said Thursday.
Earnings growth will continue to slow in 2011 for most of the industry’s biggest companies, analyst predicts.
The annual growth rate in spending on drugs may be cut in half over the next five years as people opt for less expensive generic medicines over brand-name treatments, a health-care research group said Wednesday, highlighting the challenge pharmaceutical firms like Eli Lilly and Co. are facing.
Finally, some new revenue. Eli Lilly and Co. will enjoy modest new sales later this year after U.S. regulators approved a new diabetes drug developed by a partner company, and another company nears approval on a drug that will produce royalties for the Indianapolis-based drugmaker.
Eli Lilly and Co.’s patent-infringement claim over Hospira Inc.’s generic version of the cancer treatment Gemzar will be investigated by a U.S. trade agency with the power to block imports of the copycat drug.
Eli Lilly and Co. CEO John Lechleiter visited Japan last week—three days before the massive earthquake—to deliver his tried-and-true message: Drug companies need to reinvent invention, governments needs to support innovation, and Lilly will be just fine after it has sustained the damage of the next three years.
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.
The Indianapolis-based drugmaker finally won FDA approval for its antidepressant Cymbalta to treat chronic pain and fended off a patent challenge to rising-star cancer drug Alimta, but got a ratings downgrade on its debt.
A U.S. District Court judge on Monday upheld Eli Lilly and Co.’s patent on the cancer drug Alimta, protecting the compound until July 2016. It was a welcome win after a difficult few months for Indianapolis-based Lilly, which is facing a wave of patent expirations in coming years.
Without an appeal, generic drugs are now poised to wipe away most of Lilly’s $750 million in annual U.S. revenue from Gemzar.
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.
Celesio’s Lloyds Pharmacy and Aah Pharmaceuticals businesses sold about 800,000 tablets of generic Zyprexa before agreeing in 2008 to halt sales, Lilly said in a complaint filed in the High Court in London.
Eli Lilly and Co. won a court ruling Wednesday that blocks plans by Teva Pharmaceutical Industries Ltd. to sell a generic version of the Evista osteoporosis treatment before March 2014.
