Key Developments: Eli Lilly and Co (LLY)
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21 May 2013
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Latest Key Developments (Source: Significant Developments)
Eli Lilly And Co Lymphoma Drug Fails In Late-Stage Trial-Reuters
Reuters reported that Eli Lilly And Co said it will end development of an experimental cancer drug after it failed in a late-stage trial to delay a worsening of symptoms in patients with lymphoma. The drug, enzastaurin, was being tested in lymphoma patients who were at high risk of relapse following chemotherapy treatment. Lymphoma is a cancer of the lymphatic system. Full Article
Eli Lilly And Co And Boehringer Ingelheim Pharmaceuticals, Inc. Announces Retrospective Analysis Of Linagliptin Data In Sub-Populations With Type 2 Diabetes
Eli Lilly And Co and Boehringer Ingelheim Pharmaceuticals, Inc. announced results from two new pooled analyses of phase III data with dipeptidyl peptidase-4 (DPP-4) inhibitor linagliptin. Data were included from Hispanic/Latino adults with type 2 diabetes (T2D), a population that is disproportionately affected by T2D. Data pooled from six phase III studies showed that treatment with linagliptin reduced glucose levels (HbA1c) versus placebo in this patient population. In a second retrospective analysis, data were pooled from two phase III studies that included people with long-standing T2D (>/=10 years). Analysis showed reductions in HbA1c from baseline with linagliptin versus placebo. Sub-population of Hispanic/Latino Adults with T2D The findings from first presentation were derived from six randomized, double-blind, placebo-controlled phase III studies of linagliptin 5 mg/d given as monotherapy or in addition to common glucose-lowering therapies. Of six studies included in analysis, two were 18 weeks in duration and four were 24 weeks in duration. Total of 731 American Hispanic/Latino patients (467 who received linagliptin and 264 who received placebo) were included in the full analysis set (FAS), which was comprised of all randomized patients treated with at least one dose of the study drug, and who had their HbA1c measured at baseline and at least once during treatment period. Primary efficacy endpoint was change in HbA1c from baseline to 18 or 24 weeks. Full Article
Eli Lilly And Co CFO Rice To Become Interim CEO-Reuters
Reuters reported that Eli Lilly And Co's Chief Executive John Lechleiter will undergo surgery next Monday for a dilated aorta, but is expected to make a full recovery from the potentially dangerous condition and return to work this summer, the drugmaker said. Lilly Chief Financial Officer Derica Rice, 48, will assume the additional role of acting CEO during Lechleiter's surgery and recovery period, the Indianapolis drugmaker said. Full Article
Eli Lilly And Co Declares Second-Quarter 2013 Dividend
Eli Lilly And Co announced it has declared a dividend for the second quarter of 2013 of $0.49 per share on outstanding common stock. The dividend is payable June 10, 2013 to shareholders of record at the close of business on May 16, 2013. Full Article
Eli Lilly And Co Reaffirms FY 2013 Guidance
Eli Lilly And Co reaffirmed fiscal 2013 guidance and expects fiscal 2013 earnings per share (EPS) to be in the range of $4.10 to $4.25 on a reported basis, or $3.82 to $3.97 on a non-GAAP basis. The company still anticipates fiscal 2013 revenue of between $22.6 billion and $23.4 billion. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $3.90 on revenue of $22.9 billion for fiscal 2013. Full Article
Eli Lilly And Co To Acquire Alzheimer's Imaging Agents From Siemens AG-Reuters
Reuters reported that Eli Lilly And Co said it will acquire two imaging agents from Siemens AG designed to light up brain deposits of tau, an Alzheimer's protein linked with cell death. The two agents are radiopharmaceutical tracers, which are used with positron emission tomography, or PET scans, to highlight specific proteins in the brain. Terms of the deal with the conglomerate's Siemens Medical Solutions USA unit were not disclosed. Full Article
Lorus Therapeutics Inc Signs Research and License Option Agreement with Eli Lilly And Co's Elanco
Lorus Therapeutics Inc announced that it has entered into a research and license option agreement with Elanco, the animal health division of Eli Lilly and Co, to investigate some of Lorus' compounds for veterinary medicine. According to the agreement, Elanco will fund the research program and has been granted an exclusive option to license the worldwide rights for selected compounds for veterinary use; the terms of which will be negotiated when the option is exercised by Elanco. Lorus retains the rights to develop and commercialize these compounds for human use. No further details of the deal were disclosed. Full Article
Eli Lilly And Co To Cut 1,000 U.S. Sales Jobs-Reuters
Reuters reported that Eli Lilly And Co plans to lay off about 1,000 domestic sales representatives, or 30% of its U.S. sales force, as it faces new generic competition for its top drugs. The cuts include both full-time and contract sales employees. Lilly has 38,000 employees worldwide and about 17,000 in the United States. Lilly confirmed in a statement that it is restructuring its sales force to adapt to changes including the expiration of two patents, and said it would expand its diabetes sales force. The news was first reported by the Associated Press and other outlets. Full Article
AstraZeneca PLC and Bristol-Myers Squibb Co Complete Acquisition of Rights for Byetta and Bydureon from Eli Lilly And Co
AstraZeneca PLC and Bristol-Myers Squibb Co announced that they completed the acquisition of rights to Byetta (exenatide) and Bydureon (exenatide) from Eli Lilly And Co. AstraZeneca and Bristol-Myers Squibb started in January 2007 a diabetes alliance and a cooperation on research, development and sale for certain products for type 2 diabetes. Full Article
Boehringer Ingelheim And Eli Lilly And Co Submit New Drug Application To FDA For Empagliflozin
Boehringer Ingelheim and Eli Lilly And Co announced that a New Drug Application (NDA) for the investigational sodium glucose co-transporter-2 (SGLT2) inhibitor empagliflozin* was recently submitted to the Food and Drug Administration (FDA) in the United States for the treatment of type 2 diabetes mellitus (T2D) in adults. Empagliflozin is a member of the SGLT2 inhibitor class of drugs being investigated for the reduction of blood glucose levels in adults with T2D. The emerging SGLT2 inhibitor class removes excess glucose through the urine by blocking glucose re-absorption in the kidney. Empagliflozin is being investigated in adults with T2D in a Phase III clinical trial program that plans to enroll more than 14,500 patients.1 In total, this program comprises 12 multinational clinical trials, including a large cardiovascular outcome trial. Boehringer Ingelheim and Lilly plan to present detailed data disclosures for many of these studies at scientific medical meetings and in publications in 2013 and 2014. Full Article
Lilly CEO recovering after repair to aorta
- John Lechleiter, the longtime chief executive of Eli Lilly and Co, is recovering from successful surgery to repair a dilated aorta, the U.S. drugmaker said on Tuesday.
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