Eli Lilly & Co. - LLY STOCK NEWS

Eli Lilly has received FDA approval for an expanded indication of Verzenio (abemaciclib) for adult patients with hormone receptor-positive, HER2-negative, node-positive early breast cancer at high risk of recurrence. This expansion allows the identification of eligible patients based solely on nodal status, tumor size, and tumor grade, removing the previous requirement of a Ki-67 score. Supported by four-year data from the monarchE trial, Verzenio in combination with endocrine therapy reduced recurrence risk by 35%, resulting in an 85.5% invasive disease-free survival rate after four years. The approval could significantly impact treatment options for a large patient population.

Eli Lilly and Company (NYSE: LLY) has announced significant price reductions for its insulins, cutting prices by 70% for its most commonly prescribed insulin products. Effective May 1, 2023, the list price of Insulin Lispro Injection will drop to $25 per vial, making it the lowest-priced mealtime insulin available. Additionally, Lilly will cap out-of-pocket costs at $35 per month for patients using its insulin products. This initiative aims to improve access to affordable insulin amid ongoing challenges in the U.S. healthcare system, with a public awareness campaign set to launch soon.

Eli Lilly and Company (NYSE: LLY) will attend Cowen's 43rd Annual Health Care Conference on March 6, 2023. Mike Mason, executive vice president and president of Lilly Diabetes and Obesity, will engage in a fireside chat at 1:30 p.m. Eastern time. Interested investors and stakeholders can access the live audio webcast on Lilly's Investor website, with a replay available for 90 days thereafter. Lilly has been at the forefront of medical innovation for nearly 150 years, helping over 47 million people worldwide by advancing diabetes care, combating obesity, and tackling severe health challenges like Alzheimer's disease and difficult cancers.

Eli Lilly (NYSE: LLY) has partnered with International Agencies (Bangladesh) Ltd. (IABL) to supply human insulin active pharmaceutical ingredient (API) at a reduced price to increase accessibility for nearly one million diabetes patients in Bangladesh by 2030. IABL plans to produce insulin vials and cartridges by 2025 exclusively for the local market. This collaboration is part of Lilly's 30x30 initiative aimed at providing quality healthcare to 30 million people in low-resource settings. The IDF Diabetes Atlas indicates that diabetes cases in Bangladesh are projected to rise from 13.1 million to 22.3 million by 2045.

Eli Lilly and Company (NYSE: LLY) will participate in the SVB Securities Global Biopharma Conference on February 16, 2023. Ilya Yuffa, Executive Vice President and President of Lilly International, will take part in a virtual fireside chat at 12 p.m. Eastern time. A live audio webcast will be available on Lilly's Investor website, with a replay accessible for approximately 90 days thereafter. Lilly has been a leader in creating innovative treatments, helping over 47 million people globally. Their research focuses on serious health challenges, including diabetes, obesity, Alzheimer's, and certain cancers.

Eli Lilly and Company (NYSE: LLY) will participate in the Guggenheim Oncology Conference on February 9, 2023. Key executives, including Jacob Van Naarden, CEO of Loxo@Lilly, and Dr. David Hyman, Chief Medical Officer, will engage in a fireside chat at 10:10 a.m. Eastern Time.

A live audio webcast of the event can be accessed through the 'Webcasts & Presentations' section on Lilly's Investor website. A replay will be available for 30 days after the event. Lilly has been at the forefront of medical innovations for nearly 150 years, focusing on life-changing therapies and ensuring accessibility for millions globally.

For Q4 2022, Eli Lilly (NYSE: LLY) reported a 9% decline in revenue to $7.30 billion, influenced by a 4% negative foreign exchange impact.EPS increased 13% to $2.14, while non-GAAP EPS fell 4% to $2.09. Excluding COVID-19 antibodies, revenue rose 5%, driven by a 21% growth in key products, which accounted for 70% of total revenue. The company updated its 2023 EPS guidance to $7.90 to $8.10 reported and $8.35 to $8.55 non-GAAP. Pipeline advancements include FDA approvals for Jaypirca and Jardiance. Lilly aims for mid-teen revenue growth for its core business in 2023.

Jaypirca™ (pirtobrutinib), developed by Eli Lilly (NYSE: LLY), has been approved by the FDA for treating adult patients with relapsed or refractory mantle cell lymphoma (MCL) after at least two systemic therapies, including a BTK inhibitor. This landmark approval marks Jaypirca as the first FDA-approved non-covalent reversible BTK inhibitor. In clinical trials, a 50% overall response rate was reported in patients pre-treated with other BTK inhibitors. While the approval is significant, it comes with a note that continued approval depends on confirming clinical benefits in future trials. Jaypirca's safety profile includes risks of serious infections and hemorrhage.