Eli Lilly & Co. - LLY STOCK NEWS

Eli Lilly has appointed Anat Ashkenazi as chief financial officer, succeeding Josh Smiley, who resigned due to allegations of inappropriate conduct. An external investigation confirmed poor judgment on Smiley's part, although his actions were not linked to financial matters. Ashkenazi, with nearly 20 years at Lilly, previously served as CFO of Lilly Research Laboratories and is expected to advance the company's strategy and shareholder value. CEO David A. Ricks expressed confidence in Ashkenazi's leadership amid Lilly's strong financial performance and promising pipeline.

Eli Lilly and Company (NYSE: LLY) will hold a webcast on March 15, 2021 at 10:30 a.m. Eastern Time to discuss its Alzheimer's disease program, including results from the Phase 2 TRAILBLAZER-ALZ study for donanemab. This information will be shared at the 15th International Conference on Alzheimer's and Parkinson's Diseases (AD/PD). Both investors and the public can access the live webcast via the company's website, with a replay available afterward.

Eli Lilly and Company (NYSE: LLY) will attend the Guggenheim Healthcare Talks 2021 Oncology Day on February 12, 2021. Senior VP Anne White and CEO Jacob Van Naarden will host a fireside chat at 11:00 a.m. ET. Investors can access a live audio webcast on Lilly's Investor website and a replay will be available for 90 days. Eli Lilly is dedicated to improving global health through innovative medicine and community engagement.

Eli Lilly and Company (NYSE: LLY) has partnered with local health systems in Indiana to establish dedicated infusion centers for COVID-19 treatments. These centers will provide access to authorized neutralizing antibody therapies for high-risk patients. The initiative includes new locations serving southern Indiana and has already treated over 1,700 patients. Lilly aims to enhance healthcare delivery by sharing insights with stakeholders and encourages other health systems to create similar facilities. The company's ongoing efforts in COVID-19 treatment are part of its broader commitment to address the pandemic.

Eli Lilly (LLY) reported a 22% rise in fourth-quarter revenue, reaching $7.44 billion, and an impressive 42% growth in net income to $2.12 billion for Q4 2020. The full year revenue increased 10% to $24.54 billion, but net income fell 26% to $6.19 billion due to a prior year gain from the Elanco sale. Key growth came from new medicines and COVID-19 therapy sales, with gross margin at 76.9%. However, R&D expenses rose 16%.

The company also provided guidance for continued growth in 2021.

Eli Lilly and Company (NYSE: LLY) is enhancing its partnership with Life for a Child (LFAC) to tackle diabetes care inequities for youth. Starting February 2021, access for approximately 150,000 children in 65 countries is expected to increase over the next decade, growing from 23,000. The partnership aims to provide vital diabetes management resources including insulin and education. Lilly has already donated 2.4 million insulin vials since 2009. The initiative complements Lilly's 30x30 program, aiming to assist 30 million people yearly by 2030.

Eli Lilly (NYSE: LLY) has signed a license agreement with Asahi Kasei Pharma to acquire exclusive rights for AK1780, a P2X7 receptor antagonist aimed at treating neuroinflammation linked to chronic pain. Under the agreement, Lilly will pay an upfront fee of $20 million, with potential milestone payments totaling $210 million. Asahi Kasei Pharma will retain promotion rights in Japan and China, and could earn up to $180 million in sales milestones. This transaction is not expected to alter Lilly's non-GAAP earnings guidance for 2021.

Eli Lilly (LLY), Vir Biotechnology (VIR), and GlaxoSmithKline (GSK) announced a collaboration to evaluate the combination of their COVID-19 therapies in low-risk patients with mild to moderate COVID-19. The expanded BLAZE-4 trial will assess bamlanivimab (700mg) with VIR-7831 (500mg), both neutralizing antibodies targeting SARS-CoV-2. This marks the first cross-company monoclonal antibody collaboration. Bamlanivimab is authorized for emergency use, while VIR-7831 is investigational. The trial aims to determine if this combination therapy can improve treatment outcomes.

Eli Lilly announced that the combination of bamlanivimab (LY-CoV555) and etesevimab (LY-CoV016) significantly reduced COVID-19-related hospitalizations and deaths in high-risk patients, achieving a 70% risk reduction in the Phase 3 BLAZE-1 trial. Among 1,035 participants, only 11 events occurred in the treatment group versus 36 in the placebo group. The therapy also showed improvements in secondary endpoints. Bamlanivimab is authorized for emergency use in the U.S., with ongoing efforts to reduce infusion times and explore lower doses for broader treatment access.