Puerto Rico, which has seen a number of plant closings recently, is facing another. Eli Lilly said it will close a facility in Guayama next year and put it up for sale.
It has been a tale of two cities when it comes to Eli Lilly's operations in Puerto Rico. Its plant in Carolina has been slotted for $240 million in investments in the last year, benefiting from its buildup in insulin products, and its plant in Guayama is getting axed, a victim of patent losses.
Closely allied with Eli Lilly, TVM Capital Life Sciences has bumped up its latest fund past the $200 million mark with plans to bankroll up to 15 build-to-buy drug development projects.
European Union regulators approved the sale of Novartis' animal health business to Eli Lilly in a deal worth $5.4 billion that is expected to propel the U.S. drugmaker closer to the front of the veterinary products line.
Eli Lilly's tabalumab has flopped in another Phase III program, failing to score well enough to survive as a potential new treatment for lupus--a follow-up setback to its earlier failure in rheumatoid arthritis. Lilly now plans to bury the program in its crowded graveyard of late-stage drugs.
Elanco, the animal health division of Eli Lilly, and Dow AgroSciences said they are partnering to jointly focus on helping producers increase meat and milk production to meet a growing global demand.
When Europe's drug approval gatekeepers meet, they often tick off recommendations for some key Big Pharma products. This week, the Committee for Medicinal Products for Human Use backed a whopping 15 new meds and 3 new indications.
An embattled Eli Lilly won a major battle today, gaining the FDA's approval to market dulaglutide for Type 2 diabetes. It will be sold as Trulicity.
An FDA advisory panel wants to limit the use of testosterone drugs for safety reasons--and the proposed restrictions would shrink sales significantly. That's not good news for AbbVie, the market leader, and other drugmakers that have been riding a surge of testosterone growth.
Longtime Alzheimer's player Eli Lilly has agreed to pay $50 million in a near-term milestone and take charge of the development work in a collaboration package worth a total of up to $500 million.