Eli Lilly & Co. - LLY STOCK NEWS

Eli Lilly and Incyte announced a positive opinion from the European Medicines Agency's CHMP for OLUMIANT (baricitinib) to treat adults with severe alopecia areata. This opinion signals the potential for the first oral treatment and JAK inhibitor for severe alopecia areata in the EU, pending final approval from the European Commission, expected in the next 1-2 months. The judgment is based on the successful Phase 3 BRAVE-AA1 and BRAVE-AA2 trials, involving 1,200 patients, showing significant efficacy compared to placebo. The FDA has granted priority review for the same indication in the U.S.

Eli Lilly and Company (NYSE: LLY) will participate in the UBS Global Healthcare Conference on May 24, 2022, at 8:30 a.m. ET. Michael Mason, the Senior Vice President and President of Lilly Diabetes, will engage in a fireside chat at the event. A live audio webcast of this presentation will be accessible on Lilly's Investor website, with a replay available for 90 days. Lilly focuses on advancing healthcare solutions, impacting over 47 million people globally through innovative therapies targeting major health challenges. For more details, visit Lilly.com.

The FDA has approved Mounjaro (tirzepatide) for adults with type 2 diabetes, marking it as the first GIP and GLP-1 receptor agonist. Mounjaro is set to provide significant A1C reductions of 1.7% to 2.4% and promote weight loss, with average reductions ranging from 12 to 25 lbs. in clinical trials. It will be available in the U.S. in multiple doses. Side effects include nausea and a boxed warning for thyroid tumors. Lilly aims to enhance access through partnerships with insurers and plans to offer savings cards to eligible patients.

The FDA has approved OLUMIANT (baricitinib), marking it as the first and only JAK inhibitor authorized for treating hospitalized adults with COVID-19 requiring oxygen support. Recommended dosing is 4 mg once daily for up to 14 days. This approval is based on positive results from Phase 3 studies ACTT-2 and COV-BARRIER, where OLUMIANT showed effectiveness without new safety concerns. Approximately one million patients have already received OLUMIANT globally since its emergency use in November 2020. Caution is advised due to risks of serious infections and other severe adverse events.

Eli Lilly and Company (NYSE: LLY) has elected Dr. Mary Lynne Hedley to its Board of Directors, effective May 15, 2022. Dr. Hedley, an expert in immunology and oncology, brings extensive experience from her roles at the Broad Institute and TESARO, a biotech firm she co-founded. She will serve on the Science & Technology Committee and the Ethics and Compliance Committee. CEO David A. Ricks expressed optimism about her addition, highlighting her leadership and technological insights as vital to Lilly's ongoing innovation and growth in the pharmaceutical industry.

Eli Lilly and Company (NYSE: LLY) will attend the Bank of America Securities 2022 Healthcare Conference on May 10-11, 2022. Daniel Skovronsky, M.D., Ph.D., will participate in a fireside chat on May 10 at 7:40 p.m. ET. A live audio webcast will be accessible on Lilly's Investor website, with a replay available for 90 days. Lilly aims to advance health through innovative therapies, impacting over 47 million people worldwide. For more details, visit Lilly's Investor site.

Eli Lilly and Company (NYSE: LLY) has declared a $0.98 dividend per share for the second quarter of 2022. This dividend is payable on June 10, 2022, to shareholders of record by May 16, 2022. The company focuses on innovative treatments for significant health challenges impacting millions globally. Lilly’s commitment includes enhancing accessibility and affordability of its medicines, and it has been pioneering advancements for nearly 150 years.

IgGenix, a biotechnology firm focused on alleviating allergic diseases, announces its move to Lilly Gateway Labs in South San Francisco, CA. This relocation aims to foster collaborations for scientific breakthroughs in allergy treatments. With over 50 million affected by allergies in the U.S., IgGenix intends to leverage its innovative single-cell discovery platform to develop safer therapeutic options. This partnership is expected to enhance access to Lilly's resources and expertise, ultimately addressing unmet treatment needs in the allergy space.

Eli Lilly reported a 15% revenue growth in Q1 2022, amounting to $7.81 billion, driven by a 20% volume increase. Excluding COVID-19 antibody revenues, growth was 10%. The company's key products contributed significantly, with Trulicity, Verzenio, and Jardiance driving most of the growth, representing 61% of core revenue. Reported EPS was $2.10, a 41% increase, with non-GAAP EPS at $2.62, up 63%. Updated EPS guidance for 2022 is $7.30 to $7.45 reported and $8.15 to $8.30 non-GAAP.