Indianapolis-based Eli Lilly said Thursday that it earned 87 cents per share in the first quarter of 2015--10 cents more than analysts had expected--an achievement the company attributed largely to its $5.4 billion acquisition of Novartis Animal Health.
Eli Lilly faced its fair share of problems last year, struggling with slumping sales and patent expirations for two of its bestselling products. But Lilly is celebrating a bright point, bringing in Q1 2015 numbers boosted by the success of its recently acquired animal health unit.
Eli Lilly's closely watched autoimmune treatment ixekizumab met its main goals in a Phase III psoriatic arthritis trial, rolling toward an FDA application and a shot at competing in a fast-crowding space.
Eli Lilly's closely watched autoimmune treatment met its main goals in a Phase III psoriatic arthritis trial, rolling toward an FDA application and a shot at competing in a fast-crowding space.
Erbitux is one of the top 10 best selling cancer drugs in the world and for years Bristol-Myers Squibb has sold it in the U.S. But Erbitux no longer fits in the sweet spot for Bristol-Myers which is hot for immuno-oncology right now and so is turning over marketing of the colorectal cancer drug to others. In the U.S. that is Eli Lilly, whose ImClone unit developed the cancer drug and put the marketing deal in place before Lilly bought ImClone some years back.
Takeda lost its very first jury trial in 2013 over claims that it didn't sufficiently warn patients of the cancer risks of its diabetes drug Actos. Then it and Eli Lilly were hit with a breathtaking $9 billion verdict a year later. Now Takeda is looking to extricate itself from the more than 8,000 lawsuits in the U.S. with a $2.2 billion settlement.
New York City's nascent biotech investment fund is ready to get rolling, recruiting some venture capital partners to join Eli Lilly, Celgene and GE Ventures with hopes of pouring $150 million into the local life sciences startup scene.
Takeda Pharmaceutical has offered $2.2 billion to settle all U.S. claims linked to its diabetes drug Actos as it battles thousands of cases and stretches legal resources even with some verdicts favorable, a report said April 1.
Hutchison China MediTech has met the primary endpoint of progression-free survival in a Phase II clinical trial for its metastatic colorectal cancer candidate fruquintinib (HMPL-013), putting it one step closer to China approval.
Suffering from generic competition and patent losses, Eli Lilly & Co. froze salaries and cut bonuses last year--from the top management ranks on down. But the decreases in incentive pay didn't make a huge dent in those executive pay packages.