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.
Eli Lilly and Boehringer Ingelheim secured a recommendation from European regulators for their combination diabetes treatment, making for a likely continental approval in the coming months.
The FDA says it won't recommend new limits on Eli Lilly schizophrenia med Zyprexa Relprevv after almost a year of investigating the deaths of two patients 3 to 4 days after they received injections.
Austin, Texas, biotech Aeglea Biotherapeutics raised $44 million in Series B cash to bankroll its enzyme-replacement therapy for a rare metabolic disorder, with Eli Lilly and Novartis leading the round.
A once-halted pain candidate from partners Pfizer and Eli Lilly now has the green light to resume late-stage testing, as the FDA has lifted a clincal hold tied to some serious safety concerns for the whole class of drugs.