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.
After several years of setbacks highlighted by one of the worst records for new drug approvals in Big Pharma, Eli Lilly insists that it's prepared to deliver on its long-standing promise to launch "multiple products each year for the next few years" even as it preps big cuts to its R&D budget.
It's well-documented that antibiotic resistance is a growing public health threat. Drug-resistant bacteria infect about 2 million Americans a year, causing at least 23,000 deaths, according to CDC data. Now, to keep resistance from mounting, the FDA is rolling out a plan to cut down on antibiotics use in livestock, enlisting the drugs' producers--companies like Eli Lilly and Zoetis--to help them do it.
Cymbalta is going down. The question for Eli Lilly is how fast and how far. Last evening, the FDA approved more than a half-dozen generic versions of Cymbalta, the antidepressant that's now Lilly's top-selling drug.
Eli Lilly extended its streak of Phase III flops today, reporting that its depression drug edivoxetine (LY2216684) failed to beat out a placebo in a slate of three Phase III studies. And the pharma company said it will add the drug to its growing scrap heap.
Three big players in the life sciences industry--Celgene, Eli Lilly and GE Ventures--are chipping in to help fund a $100 million venture fund that will be used to launch up to 20 new biotech companies in New York City, adding some fuel to a small but growing fire of R&D efforts in the Big Apple.
In the 20 months since the White House unveiled its $200 million Big Data R&D initiative, the field has matured and begun to fulfill its potential. Now the government has inked a batch of data-related projects and signed up Eli Lilly, Novartis and Pfizer as partners.
Eli Lilly and the nonprofit Project A.L.S. are teaming up to boost the pipeline of potential drugs for amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig' disease.
With the success of Erbitux and its patient-steering companion diagnostic fresh in mind, Qiagen and Eli Lilly have struck up their third partnership, reuniting to match genomic knowhow with drug development expertise.
While other areas of its business have stumbled, Eli Lilly has been betting on diabetes treatments to help it pull through a bad patch. And like a gambler on a winning streak, Eli Lilly will double down on its investments in insulin production with expansions at plants in China, France, Puerto Rico and the U.S. This is after having doubled its bet earlier this year.