Welcome to our dedicated page for Eli Lilly & Co. news (Ticker: LLY), a resource for investors and traders seeking the latest updates and insights on Eli Lilly & Co. stock.
Eli Lilly and Company (NYSE: LLY), founded in 1876 by Colonel Eli Lilly, is a global leader in the pharmaceutical industry, headquartered in Indianapolis, Indiana. With operations in 18 countries and products sold in approximately 125 countries, Eli Lilly is dedicated to pioneering life-changing discoveries through innovative drug development. The company focuses on several therapeutic areas including neuroscience, cardiometabolic, cancer, and immunology.
Key products in Eli Lilly’s portfolio include Verzenio for cancer treatment; Jardiance, Trulicity, Humalog, Humulin, Mounjaro, and Zepbound for diabetes management; and Taltz and Olumiant for immunology. The company's recent financial performance has been robust, with Q1 2024 revenues increasing by 26% year-over-year to $8.77 billion, driven by strong sales of Mounjaro and Zepbound.
Eli Lilly continues to expand its manufacturing capabilities to meet growing demand, recently investing $5.3 billion in its Lebanon, Indiana site. This commitment supports the production of key therapies, particularly for chronic diseases like obesity and type 2 diabetes. The company’s innovative endeavors include the development of new treatments such as the once-weekly insulin efsitora alfa, which showed promising results in phase 3 trials for type 2 diabetes.
The company is also advancing its pipeline of oncology treatments with presentations of data on products like Verzenio, Retevmo, olomorasib, and imlunestrant at major medical conferences. Furthermore, Eli Lilly announced a major leadership change with Melissa Seymour joining as Executive Vice President of Global Quality, ensuring the sustained excellence of their product offerings.
Eli Lilly’s commitment to addressing significant health challenges is evident in its diverse product pipeline and ongoing clinical trials. The company remains focused on improving patient outcomes globally by harnessing advancements in biotechnology, chemistry, and genetic medicine.
Bigfoot Biomedical has announced the compatibility of its Bigfoot Unity Diabetes Management System with four additional rapid-acting insulin products, including Eli Lilly’s Insulin Lispro and Novo Nordisk’s Insulin Aspart. These insulins are offered at prices at least 50% lower than their branded counterparts, addressing the urgent need for affordable diabetes care. The system, which features smart pen caps compatible with various insulin pens, also includes Lilly’s Lyumjev, available for $35 under the Lilly Insulin Value Program, enhancing access for diabetes patients.
On November 4, 2022, the EMPA-KIDNEY Phase III trial reported significant findings for Jardiance (empagliflozin), demonstrating a 28% reduction in the risk of kidney disease progression or cardiovascular death compared to placebo. The trial, featuring 6,609 participants, also revealed a 14% reduction in all-cause hospitalizations, enhancing treatment options for chronic kidney disease (CKD) patients. Jardiance's safety profile remained consistent with previous studies, prompting discussions for potential marketing authorization globally.
Loxo@Lilly, the oncology unit of Eli Lilly, will present new data on pirtobrutinib from the BRUIN Phase 1/2 trial at the ASH Annual Meeting in New Orleans from December 10-13, 2022. Pirtobrutinib is a novel, selective BTK inhibitor for treating various B-cell malignancies such as CLL and MCL. Key presentations will highlight its efficacy and safety in previously treated patients. The updated data cutoff is July 2022, reflecting ongoing research and development in targeted cancer therapies. This data aims to enhance understanding of pirtobrutinib's potential in patient care.
Lilly reported Q3 2022 revenue of $6.94 billion, up 2% year-over-year, with strong volume growth offset by lower prices and decreased Alimta revenue due to generics. Key growth products saw a 19% increase, contributing 70% of total revenue. Mounjaro launched successfully, generating $97.3 million in U.S. sales. Q3 EPS rose 32% to $1.61. The company updated its 2022 EPS guidance to $6.50-$6.65 (reported) and $7.70-$7.85 (non-GAAP), citing unfavorable foreign exchange impacts and asset impairment charges. Overall, Lilly continues to advance its pipeline with multiple regulatory approvals.
Eli Lilly and Company has committed $92.5 million to Purdue University to establish a pharmaceutical manufacturing scholarship program and extend research collaboration. This initiative includes $42.5 million for scholarships aimed at underrepresented students, offering up to 100 annual scholarships with guaranteed internships at Lilly. The renewed five-year collaboration will focus on advancements in drug delivery and genetic medicine, supported by an additional $50 million. This partnership aims to enhance Indiana's pharmaceutical ecosystem and training for future professionals.
Eli Lilly and Company (NYSE: LLY) will announce its third-quarter 2022 financial results on November 1, 2022. The announcement will be followed by a conference call at 9 a.m. Eastern time to discuss the financial performance in detail. Investors and the public can access a live webcast via the company's investor relations website. Lilly continues to innovate in healthcare, enhancing diabetes care, obesity treatments, Alzheimer's, and immune system disorders, benefiting over 47 million people globally.
Eli Lilly has announced a definitive agreement to acquire Akouos, valued at $487 million with potential additional payouts of up to $610 million. This acquisition aims to enhance Lilly's gene therapy capabilities for treating hearing loss. Akouos specializes in developing innovative adeno-associated viral gene therapies for inner ear conditions, including its lead candidate AK-OTOF for otoferlin gene mutations. The deal, approved by both companies' boards, secures Lilly a premium of 121% over Akouos's stock price before the announcement, with expectations to close in Q4 2022.
Eli Lilly and Company (NYSE: LLY) declared a dividend of $0.98 per share for Q4 2022, payable on Dec. 9, 2022, to shareholders of record on Nov. 15, 2022. This reflects Lilly’s commitment to returning value to investors. The company emphasizes its dedication to delivering innovative medicines and advancing biotechnology to tackle health challenges. Forward-looking statements are included, covering potential risks and uncertainties in pharmaceutical development that may affect future results.
Eli Lilly (NYSE: LLY) announced that the FDA has granted Fast Track designation for tirzepatide, aimed at treating adults with obesity or overweight related comorbidities. This designation accelerates the drug’s path for FDA submission, with a rolling NDA submission planned based on results from two Phase 3 trials: SURMOUNT-1 and SURMOUNT-2. Positive outcomes from these trials could expedite the approval process. Lilly emphasizes its commitment to addressing obesity, a significant health challenge in the U.S., affecting nearly 100 million adults.
Eli Lilly announced the FDA approval of Retevmo® (selpercatinib) for adult patients with locally advanced or metastatic solid tumors exhibiting a RET gene fusion, after previous treatments or lacking alternatives.
The approval is based on tumor-agnostic data from the LIBRETTO-001 trial, showing a 44% overall response rate across various cancers. The FDA also granted traditional approval for Retevmo in adult patients with non-small cell lung cancer (NSCLC) with RET fusion.
Warnings for Retevmo include hepatotoxicity and interstitial lung disease.
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