Judge upholds Lilly’s Evista patent
A federal judge in Indianapolis turned back a patent challenge to Eli Lilly and Co.’s drug Evista, the company announced
late yesterday.
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Lilly agrees to settle more state Zyprexa suits
Eli Lilly and Co. has agreed to confidential terms to settle lawsuits brought by seven states alleging the company illegally
marketed bestselling antipsychotic drug Zyprexa, Bloomberg News reported today.
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.
Mead Johnson plans expansion in Evansville
Mead Johnson Nutrition plans to spend nearly $33 million at a southwestern Indiana facility where it plans to start making
powdered infant formula products.
Lilly: Alimta improves lung-cancer survival time
Indianapolis-based Eli Lilly and Co. announced today that a clinical trial showed lung cancer patients treated with Lilly
drug Alimta lived about three months longer than those who received the best available care.
Hill-Rom begins CEO search under succession plan
Medical equipment supplier Hill-Rom Holdings Inc. said yesterday it has begun a chief executive search to plan for the retirement
of current CEO Peter Soderberg.
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.
Study weakens Lilly’s fight against price controls
Eli Lilly and Co. and its peers might be back in Congress’ sights as lawmakers hunt for more ways to cut health care
costs. A new study in the influential Health Affairs journal concludes that European drugmakers operating
in markets with pharmaceutical price controls have produced proportionally more innovations than their U.S. counterparts.
Medical device developer receives $1M in federal funding
Indianapolis-based FAST Diagnostics, a developer of a method to quickly measure kidney function, announced today that it has
received $1 million in federal funding.
Lilly paid doctors to prescribe Zyprexa, notes say
Eli Lilly and Co. paid doctors in South Carolina for participating in a speakers’ program in exchange for prescribing the
antipsychotic Zyprexa, according to notes by Lilly sales representatives reviewed by Bloomberg News.
Pfizer to pay record $2.3B penalty over promotions
Pfizer Inc., the world’s largest drug maker, will pay a record $2.3 billion civil and criminal penalty over unlawful prescription
drug promotions, the Justice Department announced today.
Venture firms recapitalize Advanced Physical Therapy LLC
Locally based venture capital firms Cardinal Equity Partners and Centerfield Capital Partners have joined with Chicago-based
bank Harris NA to recapitalize the state’s largest independent physical therapy provider.
Cook predicts blockbuster with new stent
Bloomington-based Cook Medical has won European approval for a new artery-opening device for the legs that it predicts will
be a blockbuster.
DailyMed sales trim Arcadia losses
Arcadia Resources Inc. narrowed its losses in its most recent quarter as it started to accelerate sales in its highly-touted
DailyMed program, the company said today.
AIT Laboratories leaps up Inc.’s list
The Indianapolis-based forensics, clinical and pharmaceutical testing firm now ranks 598, up from 1,466 a year ago. The list
is based on percentage of revenue growth.
Lilly pays $224,000 to area doctors
It’s no secret that Eli Lilly and Co. is the biggest private employer in the Indianapolis area. But
Lilly also supplemented the incomes of a few dozen local doctors — to the tune of more than $224,000 in just the first
quarter.
Abatement approval paves way for Covance jobs
The Hancock County Council this morning unanimously approved a tax-incentive agreement that should lead Covance Inc. to add
315 jobs at its Greenfield Laboratories.
Lilly software spinoff Maaguzi sells for $11 million
Investors in a company built around clinical research software bought from Eli Lilly and Co. have found their exit, though
it’s far from the lucrative payoff they’d once imagined.
VIEWPOINT: CEOs, do you deserve your salaries?
An exaggerated share of the nation’s wealth is paid to CEOs of public companies, their minions and directors, through agreements
made inside boardrooms, by highly compensated individuals who commit shareholders’ money and are not subject to effective
oversight.