When Sanofi announced that its franchise would suffer next year because of U.S. payer contracts, the natural follow-up question was this: Does this mean a diabetes pricing war? If Sanofi had to boost its rebates to win coverage--which the company admits it did--then that means its rivals, including Eli Lilly and Novo Nordisk, have, too.
Sanofi said Tuesday that its diabetes sales would be flat for 2015, thanks to payer contracts. Lantus, the company's top-selling drug with more than $7 billion in 2013 sales, was able to win reimbursement in 90% of the U.S. market, CEO Chris Viehbacher--departed as of today--said during the third-quarter earnings call.
That scary $9 billion damages award a Louisiana jury slapped on Takeda and Eli Lilly earlier this year? A U.S. district judge slashed the bill by more than 99%, saying the new amount is the biggest award allowed under current law.
Mergers and acquisitions have been non-stop this year, with lots of deals done, and some doozies that were unable to cross the finish line. Here we look at what's happened in the first half of...
French drugmaker Virbac said Monday it would pick up two products marketed by Novartis Animal Health in the U.S.--the parasiticides Sentinel Flavor Tabs and Sentinel Spectrum--which Eli Lilly has agreed to divest in advance of its acquisition of Novartis's animal products unit. Lilly reached the agreement with Virbac in connection with the U.S. Federal Trade Commission's review of its acquisition of Novartis Animal Health, according to a press release issued by Virbac.
Eli Lilly found itself standing at the bottom of a steep slope this year, beleaguered by slumping sales and patent losses for two of its bestselling drugs. The Indianapolis, IN-based company is continuing on its downward spiral, reporting a 16% dip in revenue due to exclusivity losses on anti-depressant Cymbalta and osteoporosis drug Evista.
Eli Lilly is expanding its relationship with Canadian biotech Zymeworks, signing a broader deal that promises up to $375 million in milestones for its partner as the two collaborate on cancer immunotherapies.
Puerto Rico, which has seen a number of plant closings recently, is facing another. Eli Lilly said it will close a facility in Guayama next year and put it up for sale.
It has been a tale of two cities when it comes to Eli Lilly's operations in Puerto Rico. Its plant in Carolina has been slotted for $240 million in investments in the last year, benefiting from its buildup in insulin products, and its plant in Guayama is getting axed, a victim of patent losses.
Closely allied with Eli Lilly, TVM Capital Life Sciences has bumped up its latest fund past the $200 million mark with plans to bankroll up to 15 build-to-buy drug development projects.