Lilly Eli & Co - LLY STOCK NEWS

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.

Eli Lilly and Company (NYSE: LLY) declared a dividend of $1.30 per share for the second quarter of 2024. The dividend will be paid on June 10, 2024, to shareholders of record as of May 16, 2024. Lilly is a leading medicine company with a history of life-changing discoveries, helping over 51 million people worldwide. The company focuses on developing innovative solutions for diabetes, obesity, Alzheimer's disease, immune system disorders, and difficult-to-treat cancers.