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 and Company (NYSE: LLY) announced the resignation of Anat Ashkenazi, their Chief Financial Officer, effective July 2024. Ashkenazi is leaving to pursue a career opportunity outside the pharmaceutical industry. She has been with Lilly for 23 years, serving as CFO for the last three years, a period marked by significant growth for the company. Prior to her role as CFO, she held several key financial positions, including senior vice president, controller, and CFO of Lilly Research Laboratories. The company has initiated an internal and external search for her successor.
Eli Lilly and Co. (NYSE: LLY) announced that Melissa Seymour will join as executive vice president of Global Quality and Executive Committee member, effective July 22, 2024.
Seymour, currently the chief quality officer at Bristol Myers Squibb, succeeds Johna Norton, who is retiring after 34 years of service. Seymour brings over 25 years of experience in pharmaceutical quality leadership, having worked with companies like Biogen, Novo Nordisk, and Glaxo Smith Kline.
CEO David A. Ricks emphasized Seymour's expertise in quality initiatives and her role in maintaining Lilly's high standards. Seymour expressed enthusiasm about contributing to Lilly's commitment to patient health and safety.
Seymour holds degrees in biological sciences and biochemistry from North Carolina State University and an MBA from Duke University. She is also actively involved in industry organizations and holds several quality-related certifications.
Eli Lilly has released updated data from the Phase 1/2 clinical trial of olomorasib, an investigational second-generation KRAS G12C inhibitor. The data, presented at the 2024 ASCO Annual Meeting, showed promising efficacy and tolerability in patients with KRAS G12C-mutant advanced solid tumors, including NSCLC. Olomorasib demonstrated an objective response rate (ORR) of 35% across non-CRC solid tumors and 41% in NSCLC patients previously treated with a KRAS G12C inhibitor. In combination with pembrolizumab, the ORR for first-line metastatic NSCLC was 77%. Common treatment-related adverse events (TRAEs) were mostly mild, with diarrhea, nausea, and fatigue being the most frequent. The study also highlighted preliminary CNS activity in NSCLC patients with brain metastases. Eli Lilly aims to further investigate olomorasib in combination therapies for first-line NSCLC through the ongoing SUNRAY-01 trial.
Eli Lilly (NYSE: LLY) announced a new $6.5 million donation to UNICEF during the World Health Assembly, bringing their total commitment since 2022 to over $20 million. This funding aims to improve health outcomes for children and youth at risk of noncommunicable diseases (NCDs) in resource- areas in India. The initiative will target diseases like type 1 diabetes, respiratory illnesses, and heart diseases, emphasizing prevention, management, and strengthening health systems. This effort aligns with Lilly’s 30x30 initiative to enhance healthcare access for 30 million people in under-resourced settings by 2030.
Eli Lilly and Company (NYSE: LLY) announced its participation in the Goldman Sachs 45th Annual Global Healthcare Conference on June 10, 2024.
Patrik Jonsson, executive vice president and president of Lilly Diabetes and Obesity, as well as president of Lilly USA, will join a fireside chat at 4 p.m. Eastern time.
A live audio webcast will be accessible on Lilly's Investor website, with a replay available for 90 days.
Eli Lilly announced an additional $5.3 billion investment in its Lebanon, Indiana manufacturing site, raising its total investment there to $9 billion. This expansion aims to boost the production of active pharmaceutical ingredients (API) for Zepbound (tirzepatide) and Mounjaro (tirzepatide), addressing high demand for these treatments in obesity and type 2 diabetes. Since 2020, Lilly has committed over $18 billion towards developing and upgrading facilities in the U.S. and Europe. The Lebanon site will create 200 new full-time jobs and over 5,000 construction jobs, with operations expected to start in 2026 and scale up by 2028.
Eli Lilly (NYSE: LLY) will present data on Verzenio, Retevmo, olomorasib, and imlunestrant at the 2024 ASCO Annual Meeting from May 31 to June 4 in Chicago.
Key highlights include:
1. Verzenio: Late-breaking outcomes from the Phase 3 postMONARCH study on HR+, HER2- breast cancer.
2. Retevmo: Safety and efficacy results from the Phase 1/2 LIBRETTO-121 study for pediatric patients with RET-altered tumors.
3. Olomorasib: Updated results for KRAS G12C-mutant cancer treatments.
4. Imlunestrant: Early-phase data on combinations with HER2 therapy.
An investor event will update Lilly's oncology strategy on June 2, 7:30 p.m. CDT, available via webcast.
Eli Lilly's Phase 3 VIVID-1 study indicates that more than half of patients with Crohn's disease treated with mirikizumab achieved clinical remission after one year, including those with prior biologic failures. Nearly half also achieved an endoscopic response. The study demonstrates significant improvements compared to placebo, with 54.1% achieving clinical remission and 48.4% achieving endoscopic response. Mirikizumab showed higher combined remission and endoscopic response rates compared to ustekinumab, especially among patients with previous biologic failures. Lilly has submitted a supplemental Biologics License Application for mirikizumab to the FDA and EMA, with further global submissions planned.
Eli Lilly announced positive topline results from the QWINT-2 and QWINT-4 phase 3 clinical trials for their once-weekly insulin efsitora alfa. The trials demonstrated that efsitora alfa provides non-inferior A1C reduction compared to daily insulin therapies, with similar safety and efficacy profiles. In QWINT-2, insulin-naïve adults using efsitora saw a 1.34% reduction in A1C over 52 weeks, comparable to insulin degludec's 1.26%. QWINT-4 showed a 1.07% A1C reduction in adults already on basal insulin, equivalent to insulin glargine. Both trials showed efsitora was well-tolerated, with hypoglycemia rates comparable to daily insulins. Detailed QWINT-2 results will be presented at the EASD Annual Meeting 2024, with further trial results expected later this year.
Eli Lilly and Company (NYSE: LLY) announced the retirement of Alonzo Weems, executive vice president of enterprise risk management and chief ethics and compliance officer, effective Dec. 31, 2024. Weems has served the company for 27 years, contributing significantly to its global product development and ethical standards. CEO David A. Ricks highlighted Weems' role in enhancing digital and data analytics capabilities and fortifying the company's ethics program. Lilly has been recognized by Ethisphere as one of the World's Most Ethical Companies for the eighth consecutive year, a testament to Weems' efforts. An internal and external search for his successor is underway.
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