Eli Lilly (NYSE:LLY) said today that it plans to shed 3,500 positions globally as it works to cut costs. The drugmaker estimates that the move will result in yearly savings of about $500 million, starting next year. Lilly said most of the cuts will come from a voluntary early-retirement program that it is offering the U.S., […]
Eli Lilly & Co.
Novo Nordisk diabetes drug succeeds in late-stage trial
Shares in Novo Nordisk (NYSE:NVO) rose nearly 5% yesterday afternoon after the insulin-maker said that its once-weekly diabetes drug, semaglutide, succeeded in lowering glucose levels in a late-stage trial. The 40-week trial enrolled 1,200 patients and evaluated two dosages of semaglutide in combination with a standard-of-care-drug. The study compared its drug against Eli Lilly‘s (NYSE:LLY) dulaglutide […]
Lilly tops Q2 earnings, revenue estimates
Shares in Eli Lilly (NYSE:LLY) fell today even though the drugmaker beat expectations on Wall Street with its second quarter results. The Indianapolis-based company posted profits of $1.01 billion, or 95¢ per share, on sales of $5.82 billion for the 3 months ended June 30, for bottom-line growth of 35% on sales growth of 8% compared […]
Eli Lilly pledges up to $52m to Purdue for improving injection tech
Eli Lilly (NYSE:LLY) said today that it pledged up to $52 million to Purdue University as part of a 5-year research agreement. The deal is Purdue’s largest strategic collaboration with a single company, according to the university. The group is slated to focus on improving the delivery of injectable medications with the goals of reducing pain and […]
Lilly wins FDA nod for Humalog pre-filled Junior KwikPen device
Eli Lilly (NYSE:LLY) said today that the FDA approved its Humalog Junior KwikPen for the treatment of diabetes. The device is a pre-filled pen with half-unit dosing capabilities, which Eli Lilly said gives patients access to finer dose adjustment. “We are pleased to be able to meet the needs of people who prefer a prefilled […]
Insulet brings on new chief commercial exec | Personnel Moves – June 5, 2017
Insulet (NSDQ:PODD) last month named Bret Christensen as its chief commercial officer to lead the company’s sales, marketing, customer care, market access and advocacy. He most recently served as GM of Myriad Genetics’ preventive care business division. He has also worked as VP of sales and marketing of the gynecologic surgical products unit at Hologic. “I […]
Novelion CEO leaves Nordisk board due to potential conflict of interest | Personnel Moves – May 16, 2017
Novo Nordisk (NYSE:NVO) said this week that the CEO of Canadian biotech Novelion Therapeutics, Mary Szela, left Nordisk’s board effective immediately due to a “potential conflict of interest”. Szela’s departure follows Novelion’s decision to expand into non-alcoholic steatohepatitis, also known as fatty liver, according to a Nordisk spokeswoman. As the Danish drugmaker faces increasing pricing pressure […]
Sanofi ties drug price increases to healthcare inflation
Insulin makers have faced questioning this year for their drug pricing practices – a class-action lawsuit filed in the U.S. District Court of Massachusetts in January alleges that Sanofi (NYSE:SNY), Novo Nordisk (NYSE:NVO) and Eli Lilly (NYSE:LLY) conspired to raise their list prices to get access to pharmacy benefit managers’ preferred lists, instead of competing with each other […]
Report: Pharma relies on price hikes for growth
Despite growing pressure from lawmakers over the pharmaceutical industry’s pricey products, new research shows that pharma relied largely on price hikes for growth in 2016. A 120-page report from Credit Suisse demonstrated that net price growth made up 100% of net income growth for a variety of companies within the industry, including Biogen (NSDQ:BIIB), Eli Lilly […]
Eli Lilly’s diabetes drugs boost Q1 revenue, earnings
Shares in Eli Lilly (NYSE:LLY) fell slightly today as the company met expectations on Wall Street with its 1st quarter financial results. The company has faced its share of issues in the last year – Lilly took a $150 million hit in November after its Alzheimer’s drug failed in a clinical trial and this month, the […]