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.
Eli Lilly (NYSE: LLY) has successfully completed its acquisition of Prevail Therapeutics (NASDAQ: PRVL) for $22.50 per share, plus a contingent value right (CVR) potentially adding $4.00 per share based on regulatory approvals by December 31, 2024. This acquisition establishes a gene therapy program targeting neurodegenerative diseases. Approximately 79.8% of Prevail’s shares were tendered, and the deal will not alter Lilly's 2021 financial guidance. Prevail's stock will be delisted from NASDAQ following the merger.
Eli Lilly and Company (NYSE: LLY) announced that its monoclonal antibody, bamlanivimab (LY-CoV555), significantly reduced the risk of symptomatic COVID-19 in nursing home residents and staff during the Phase 3 BLAZE-2 trial. The trial included 965 participants, showing an 80% lower risk of symptomatic COVID-19 for those treated with bamlanivimab compared to placebo. The treatment was particularly effective among nursing home residents. No COVID-19 related deaths occurred in the bamlanivimab group, highlighting its potential in safeguarding vulnerable populations.
Loxo Oncology at Lilly and Merus N.V. announced a collaboration to develop CD3-engaging bispecific antibody therapies. Merus will lead discovery, with Lilly handling development and commercialization. Merus receives $40 million upfront, $20 million equity investment, and up to $1.6 billion in potential milestones for up to three products. This partnership enhances Loxo's biologics strategy. The transaction aligns with Lilly's financial guidance, with no change to 2021 non-GAAP earnings per share expected.
Eli Lilly and Company (NYSE: LLY) will announce its fourth-quarter and full-year 2020 financial results on January 29, 2021. A conference call with the investment community and media is scheduled for 9 a.m. Eastern time on the same day, providing further details on the company's financial performance. Investors can access a live webcast of the call on Lilly's website, with a replay available afterward.
Eli Lilly and Company (NYSE: LLY) has announced a $30 million investment in the Unseen Capital Health Fund LP, aimed at supporting underrepresented founders in healthcare. This investment aligns with Lilly's commitment to racial justice and aims to help address healthcare inequities faced by marginalized communities. The Fund targets up to 50 early-stage healthcare companies led by diverse founders. Lilly hopes to set a precedent for collaboration in supporting diverse healthcare entrepreneurs. The Fund is working towards a $100 million target for investment.
Eli Lilly and Company (NYSE: LLY) has elected Gabrielle Sulzberger to its board of directors, effective January 25, 2021. Sulzberger, a seasoned financial expert, will serve on both the Audit Committee and the Ethics and Compliance Committee. She brings over 30 years of experience in financial services and private equity, including positions at Two Sigma Impact and Rustic Canyon. Her election aims to enhance the board's diversity and expertise. Sulzberger will stand for election by shareholders at the annual meeting in May 2021.
The FDA has accepted a supplemental New Drug Application (sNDA) for Jardiance (empagliflozin) from Eli Lilly and Boehringer Ingelheim. This sNDA targets reducing cardiovascular death and hospitalization for heart failure in adults, especially those with chronic heart failure with reduced ejection fraction. The sNDA is based on the EMPEROR-Reduced trial results, showing Jardiance reduced the risk of cardiovascular death or hospitalization by 25%. The FDA previously granted Fast Track designation for its use in heart failure treatment. Further results are awaited from the EMPEROR-Preserved trial.
Eli Lilly's investigational antibody, donanemab, demonstrated a 32% reduction in cognitive decline in early symptomatic Alzheimer's patients compared to placebo in the Phase 2 TRAILBLAZER-ALZ study. This study, involving 272 patients, met its primary endpoint in the Integrated Alzheimer's Disease Rating Scale (iADRS). Notable safety observations included 27% incidence of amyloid-related imaging abnormalities (ARIA-E). The study's full results will be submitted for publication, with plans for further discussions with global regulators regarding next steps for donanemab.
Eli Lilly and Company (NYSE: LLY) will participate in the 39th Annual J.P. Morgan Healthcare Conference on January 12, 2021. David A. Ricks, the company's CEO, is set to engage in a virtual fireside chat at 8:20 a.m. Eastern time. A live audio webcast will be accessible through the "Webcasts & Presentations" section of Lilly's Investor website. The presentation will be available for replay for about 90 days. Lilly aims to innovate healthcare by discovering medicines that improve lives globally.
Principle LTC's Tower Nursing & Rehabilitation Center has partnered with Eli Lilly to conduct a Phase 3 clinical trial of bamlanivimab and etesevimab. This trial aims to prevent SARS-CoV-2 infections and treat high-risk COVID-19 patients in long-term care facilities. The study's early data shows that bamlanivimab may prevent severe symptoms in early-stage patients, helping to mitigate the impact of COVID-19 on vulnerable populations. Participation is voluntary, and a mobile research unit will provide onsite infusions when COVID-19 criteria are met.
FAQ
What is the current stock price of Eli Lilly & Co. (LLY)?
What is the market cap of Eli Lilly & Co. (LLY)?
What are Eli Lilly's core business areas?
What are some of Eli Lilly's key products?
How did Eli Lilly perform financially in Q1 2024?
What recent investments has Eli Lilly made?
Who is the new Executive Vice President of Global Quality at Eli Lilly?
What are some recent clinical trial results shared by Eli Lilly?
In how many countries does Eli Lilly operate?
What is the significance of Eli Lilly's recent investment in Lebanon, Indiana?
What is the focus of Eli Lilly's ongoing research and development?
What are some common side effects of Eli Lilly's product Mounjaro?
