Layoffs are always big news in pharma, seen as an indicator of the health of the industry. Of course, the factors that eventually lead to layoffs are not simple. Often the patent cliff is to blame, but--as many of 2013's biggest cuts show--it's not always the culprit. Whatever the reason, pharma cutbacks are closely watched by investors, employees and competitors alike. Here's our report on the largest layoffs of 2013.
Lechleiter recently pointed to animal health as well as key therapeutic areas like neurosciences, diabetes and cancer, according to a report from Reuters.
Ariad Pharmaceuticals just relaunched its leukemia drug Iclusig last week, but already buyout rumors are buzzing. The U.S.-based biotech saw its shares jump this morning on reports that Eli Lilly is leading a field of several potential buyers.
Part of the new Drug Quality and Security Act, approved in the U.S. last fall, sets in motion a timeline to eventually have serialization on individual drug units and a system to track them from manufacturing to pharmacy.
"This will be Eli Lilly's most financially challenging year." That is the message that Eli Lilly CEO John Lechleiter started off his presentation with Tuesday to a room full of apt listeners at the J. P. Morgan Healthcare Conference before segueing into how the company's pipeline will move it past troubled times.
Qiagen and Exosome Diagnostics will partner to develop innovative, noninvasive molecular in vitro diagnostics to detect lung cancer and other malignancies.
Eli Lilly has struck a deal with Arteaus Therapeutics to acquire the Cambridge, MA-based company's migraine therapy being studied in a Phase II clinical trial.
Since setting up shop in 2006, WellDoc has financed development of its mobile diabetes management tool through debt and angel investment, snagging itself the input of pharma veterans in the process. Now, it has landed its first round of institutional investment, with Merck Global Health Innovation Fund and others committing $20 million.
Vancouver, Canada's Zymeworks has its eyes on a big 2014, signing up with Eli Lilly to lend out its cancer-targeting platform and raising $15 million to advance oncology candidates of its own.
Once again, Eli Lilly is promising that tomorrow is another day. With its 2014 guidance, the Indianapolis-based drugmaker sticks to its $3 billion earnings target but puts revenue for the year at $19.2 billion to $19.8 billion, less than the $20 billion CEO John Lechleiter called "minimum" late last year.