Eli Lilly's animal health business, Elanco, provides a bit of a bright spot in an otherwise weak earning report for its second quarter, with sales globally up more than 10%, while revenues across the entire company were up just 1%.
Eli Lilly said 2014 would be an extraordinarily challenging year, and judging from its second-quarter earnings, that prediction wasn't wrong. Lilly's revenue dropped 17% to $4.9 billion in the second quarter, largely because the company lost its patent protection on two of its biggest blockbusters: the anti-depressant Cymbalta, which once brought in nearly $5 billion in sales annually, and osteoporosis drug Evista, previously a $1-billion-a-year hit.
Eli Lilly says about 100 jobs will be lost in its dry products operations as it rejiggers tablet and capsule production over the next several years, but that employees will have the chance to move to other positions, like in its growing insulin operations.
Immunocore has struck another cancer R&D pact with one of the world's top drugmakers, signing a deal with Eli Lilly that'll both bring in short-term revenue and help the biotech build value in its proprietary pipeline.
Scientists at drug giant Eli Lilly have found that a combination therapy may be more effective at removing clumps of amyloid-β protein--widely thought to contribute to the development of Alzheimer's disease--than the use of one therapy in mice.
Animal health, which for decades was little more than a side business for big pharma companies, has emerged as a beacon of growth and an important profit driver in the industry. The rise of animal health as a growth engine has set off a flurry of deal making, attracted an influx of capital and created an increasingly dynamic marketplace for pet and livestock pharmaceuticals.
Sanofi has already slapped Eli Lilly with one patent infringement lawsuit over its Lantus copy, effectively keeping the competitor off the market until at least mid-2016. But now, it's filed another, wider suit.
Sanofi has filed another lawsuit against Eli Lilly in hopes of beating back a biosimilar challenge for its top-selling insulin product, claiming its rival's in-development knockoff infringes its intellectual property.
Eli Lilly is partnering with Beijing-based Yabao Pharmaceuticals on the development of its early-stage diabetes drug LY2608204.
It has been a big couple of years for the animal health industry. With FierceAnimalHealth, we will be keeping tabs on a slew of companies that are new to us and so we urge you to help us get to know you and to keep us apprised of the essential news in the industry. And please pass along your suggestions.