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.
Lilly paid $90 million in 2009 to acquire the global rights to the treatment in a bid to beef up its pipeline of medications for autoimmune diseases.
Merck & Co. is betting it can succeed where Pfizer Inc. failed, with a new type of drug to combat heart disease by raising good cholesterol levels. Indianapolis-based Eli Lilly and Co. is testing a similar pill.
Eli Lilly and Co.’s $800 million acquisition of Avid Radiopharmaceuticals Inc. is the biggest step yet in the drugmaker’s attempt to add diagnostics to its product portfolio.
Eli Lilly said it will acquire Avid Radiopharmaceuticals, maker of an experimental agent that could help identify patients with Alzheimer’s disease. The price could climb to $800 million if the agent is commercially successful.
The federal legislation is roundly criticized at a BioCrossroads meeting, but some firms have found a silver lining.
After recently deciding to close a research center in Singapore, Indianapolis-based Eli Lilly and Co. has decided to open a diabetes research center in China in the second half of 2011, further ramping up the drugmaker’s presence in the world’s fastest-growing pharmaceutical market.
Indianapolis-based Eli Lilly and Co. plans to open a diabetes research center in China, the drugmaker said Tuesday, citing the high incidence of the disease there.
Indiana’s life sciences industry has weathered the recession relatively well, but Eli Lilly’s struggles and tight capital markets could threaten the future.
Venture funds nationwide crested at $100 billion in 2000, but that number last year had drooped to $18 billion.
Eli Lilly and Co. executives have said repeatedly that the company’s bulging pipeline will produce two new drugs per year, beginning in 2013. But only three times in the past six decades has Lilly been able to launch two or more new drugs in back-to-back years.
Indianapolis-based Dow AgroSciences improved revenue during the third quarter thanks to a 26-percent increase in volume, but it still recorded a loss for the period.
Mark Long was president of the Indiana University Research & Technology Corp., which was responsible for the university’s tech transfer, before launching a consulting firm, Long Performance Advisors, in 2008.
Indiana firms have dismissed more than 1,400 life science workers over the last two years. Now BioCrossroads has launched a website that aims to keep that talent in the state.
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.
Amy Zucker is president of Indianapolis-based Synergy Marketing Group. Her firm was recently hired by Indianapolis-based ImmuneWorks Inc. to use a new website and search engine optimization to help recruit patients for a Phase 1 trial of ImmuneWorks experimental medicine idiopathic pulmonary fibrosis. The Web strategy is a new wrinkle on patient recruitment—in addition to the traditional partnerships with disease specialists at academic medical centers—that Zucker hopes leads to lower costs and faster clinical trials. Phase 1 clinical trials cost nearly $16,000 per patient.
The company, which develops mass spectrometry devices used in the life sciences and industrial chemistry, has a new CEO, among other changes.
Biomet’s quarterly results are considered an indicator on the state of the orthopedic device industry because it reports results before most of its competitors.
In combination with chemotherapy, the drug failed to help colon-cancer patients in a European trial but did delay the spread of breast cancer in some patients with a certain type of aggressive tumor.
California-based life sciences firm Beckman Coulter Inc. is planning its third local expansion since 2007, investing $18.2 million in its Indianapolis operation and adding as many as 95 jobs here in the next three years.
