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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 announced Q3 2020 results, reporting revenue of $5.741 billion, a 5% increase from Q3 2019. Net income was $1.208 billion (-4%), with EPS of $1.33 (-3%). Non-GAAP net income grew by 3% to $1.407 billion, with EPS at $1.54 (+4%). Key growth products contributed significantly, with notable increases in Trulicity (+9%) and Taltz (+34%). Total operating expenses rose 9% to $3.035 billion, impacted by COVID-19 expenses of $125 million. Lilly also made strides in COVID-19 treatment development, submitting a request for Emergency Use Authorization for bamlanivimab.
New findings from the EMPEROR-Reduced phase III trial reveal that Jardiance (empagliflozin) significantly reduces the risk of adverse cardiovascular and kidney events in adults with heart failure and reduced ejection fraction, regardless of diabetes or chronic kidney disease status. The study reported a 25% reduction in cardiovascular death or heart failure hospitalization and a 50% decrease in composite kidney endpoints. With a safety profile consistent with prior studies, these results underscore Jardiance's potential in addressing the growing needs of patients suffering from both heart failure and chronic kidney disease.
Eli Lilly and Company (NYSE: LLY) has declared a $0.74 dividend for the fourth quarter of 2020, set to be paid on December 10, 2020. Shareholders must be on record by the close of business on November 13, 2020 to receive this dividend. This announcement underscores Lilly's commitment to providing value to its shareholders while continuing its mission to develop life-changing medicines.
Eli Lilly and Company (NYSE: LLY) has entered into a definitive agreement to acquire Disarm Therapeutics for an upfront payment of $135 million, with potential future payments totaling $1.225 billion tied to development milestones. Disarm specializes in developing SARM1 inhibitors aimed at treating axonal degeneration linked to neurological diseases such as ALS and multiple sclerosis. This acquisition aligns with Lilly's commitment to advancing therapies for nerve damage. The transaction is not expected to alter Lilly's 2020 non-GAAP earnings per share guidance.
Eli Lilly announced promising results from the Phase 2 SERENITY study of mirikizumab for treating moderate to severe Crohn's disease. The trial reported that nearly 60% of patients achieved significant endoscopic response, while over 45% attained patient-reported outcome remission at 52 weeks. These findings were shared during the UEG Week 2020. The study highlights the potential of mirikizumab as a treatment option, addressing a critical need for new therapies in this challenging condition. Safety profiles were consistent, with common adverse events being manageable.
Eli Lilly and Company (NYSE: LLY) announced promising results from its OVERCOME study, with nearly 80% of participants using CGRP monoclonal antibodies for migraine prevention reporting improvement in their condition. The study surveyed 586 individuals, revealing that 62.6% also used additional recommended preventive medications. These findings, presented at the 18th Migraine Trust International Symposium, highlight the effectiveness of CGRP mAbs and aim to inform healthcare providers on treatment plans. OVERCOME is set to include 100,000 participants globally, solidifying its status as a significant study in migraine treatment.
Eli Lilly and Company (NYSE: LLY) will announce its third-quarter 2020 financial results on October 27, 2020. The company will hold a conference call at 9 a.m. Eastern time to discuss its financial performance, accessible via a live webcast on Lilly's website. A replay will be available post-call. Lilly continues its commitment to healthcare innovation, focusing on delivering life-changing medicines worldwide.
Eli Lilly and Incyte announced new data demonstrating that baricitinib, in combination with remdesivir, significantly reduces recovery time for hospitalized COVID-19 patients. The Adaptive COVID-19 Treatment Trial (ACTT-2) revealed a median recovery time improvement from 8 to 7 days, with a 12.5% relative reduction. Notably, mortality rates dropped 35% through Day 29 among patients receiving the combination therapy, particularly benefiting those requiring supplemental oxygen. Lilly is pursuing Emergency Use Authorization from the FDA for baricitinib's COVID-19 treatment.
Eli Lilly and Company (NYSE: LLY) has partnered with the Bill & Melinda Gates Foundation to improve access to its COVID-19 therapeutic antibodies in low- and middle-income countries. The initiative, part of the COVID-19 Therapeutics Accelerator, aims to facilitate the distribution of these treatments around the world. Manufacturing is set to begin in April 2021, with some volumes available earlier, pending regulatory approval. Collaborators of Lilly have waived their royalties for these therapies in the targeted regions, reinforcing the commitment to equitable healthcare access.
Eli Lilly (NYSE: LLY) provided updates on its SARS-CoV-2 neutralizing antibody programs, sharing interim data from the BLAZE-1 trial. The combination therapy of LY-CoV555 and LY-CoV016 showed significant reductions in viral load and COVID-related hospitalizations. Lilly expects to have up to 1 million doses of LY-CoV555 available in Q4 2020. The company is engaging global regulators for potential Emergency Use Authorization (EUA) for the treatments, with a BLA submission expected as early as Q2 2021. The combination therapy demonstrated a relative risk reduction of 84.5% in hospitalizations.
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