Eli Lilly & Co. - LLY STOCK NEWS

The board of directors of Eli Lilly and Company (NYSE: LLY) has announced a 15% increase in its quarterly dividend, setting the first quarter 2023 dividend at $1.13 per share. This dividend is scheduled for payment on March 10, 2023, to shareholders on record as of February 15, 2023.

This decision highlights Lilly's commitment to returning value to shareholders while continuing to advance its innovative healthcare solutions for various diseases.

The DINAMO phase III trial showed that Jardiance (empagliflozin) significantly reduces HbA1c levels in children and adolescents aged 10-17 with type 2 diabetes, marking it as the first SGLT2 inhibitor to achieve this in a pediatric population. The study demonstrated a reduction of 0.84% in HbA1c at 26 weeks compared to placebo (P=0.012). Safety data were consistent with prior adult studies, reinforcing its safety profile. With rising pediatric diabetes cases, these findings highlight an unmet therapeutic need, particularly for oral agents beyond metformin.

On December 6, 2022, Eli Lilly announced updated results from the Phase 3 monarchE trial of adjuvant Verzenio (abemaciclib) for high-risk early breast cancer patients. With a median follow-up of 3.5 years, an absolute improvement in invasive disease-free survival (IDFS) and distant relapse-free survival (DRFS) was demonstrated at four years, showing 6.4% and 5.9% benefits, respectively. The trial included 5,637 patients and showed a 33.6% reduction in the risk of developing invasive disease. While overall survival data are still immature, administration of Verzenio remains safe and well-tolerated.

Eli Lilly has successfully completed its acquisition of Akouos, enhancing its focus on genetic medicines. The acquisition, valued at $12.50 per share plus contingent value rights, aims to integrate Akouos's innovative gene therapies targeting inner ear conditions, including hearing loss. As of the acquisition date, 81.1% of Akouos's shares were tendered. Post-acquisition, Akouos will be a wholly owned subsidiary of Lilly, and its shares will be delisted. The deal includes potential milestone payments based on the progress of Akouos's clinical trials.

Eli Lilly (NYSE: LLY) announced positive results from the Phase 3 TRAILBLAZER-ALZ 4 study for its investigational Alzheimer’s treatment, donanemab. The study showed that after 6 months, 37.9% of donanemab-treated patients achieved brain amyloid clearance compared to only 1.6% for Aduhelm (aducanumab-avwa). Additionally, donanemab reduced amyloid levels by 65.2%, outpacing Aduhelm’s 17% reduction. The FDA has also accepted donanemab's application for accelerated approval. This trial marks a significant step in evaluating amyloid-targeting therapies for Alzheimer's disease.

Eli Lilly and Company (NYSE: LLY) and Akouos, Inc. (NASDAQ: AKUS) announced the expiration of a tender offer for Akouos's shares at $12.50 each, plus a contingent value right potentially worth $3.00. The offer expired on November 29, 2022, with 29,992,668 shares (81.1%) validly tendered. All conditions were satisfied, and the acquisition is expected to close on December 1, 2022. Lilly aims to enhance its portfolio in gene therapies for hearing loss through this strategic acquisition.

Eli Lilly and Company (NYSE: LLY) will announce its 2023 financial guidance on Dec. 13, 2022. A conference call with the investment community and media will take place at 9 a.m. Eastern time on the same day to detail the guidance. Investors and the public can access a live webcast through Lilly's website, with a replay available afterward. Lilly has a long history of creating innovative medicines that enhance lives globally, addressing critical health challenges like diabetes, obesity, and cancer.

Eli Lilly and Company (NYSE: LLY) will participate in the Evercore ISI HealthCONx Conference on November 30, 2022. Jacob Van Naarden, EVP and CEO of Loxo@Lilly, along with Dr. David Hyman, the Chief Medical Officer of Loxo@Lilly, will engage in a fireside chat at 12:10 p.m. Eastern Time. Investors and the public can access a live audio webcast via Lilly's Investor website, with a replay available for 90 days. Lilly continues to advance health care solutions impacting millions globally.

Eli Lilly and Company (NYSE: LLY) is launching the Tempo® Personalized Diabetes Management Platform in the U.S. later this year, designed to assist adults with type 1 or type 2 diabetes in managing their treatment with Lilly insulins. Key components include the Tempo Smart Button®, TempoSmart™ app, and Tempo Pen®. The platform integrates with devices like Dexcom® CGMs and fitness trackers. The phased rollout will target clinics initially, with national availability aimed for 2023. Lilly is also working with insurers to enhance patient access to the platform.