Lilly sees stock dip after fake Twitter profile makes bogus insulin announcement

Eli Lilly (NYSE:LLY) saw its share price drop about 4% Friday to $352.36 after a fake Twitter account claimed the company would make insulin available at no cost.

“We are excited to announce insulin is free now,” read the fake announcement from @EliLillyandCo, which received more than 1,500 retweets and 10,000 likes before Twitter removed the bogus announcement.

“We apologize to those who have been served a misleading message from a fake Lilly account. Our official Twitter account is @LillyPad,” the company announced on Twitter.

Today, LLY shares ticked up about 1% in mid-day trading to $355.53.

Twitter withdrew its paid subscription service that some users used to exploit the service by impersonating companies and celebrities.

The news has highlighted the cost of Lilly’s insulins. For instance, a vial of its Humalog insulin costs $274.70 without insurance.

Lilly has responded to the renewed attention on its pricing by describing its…

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Lilly establishing pharmaceutical manufacturing scholarship program at Purdue

Eli Lilly (NYSE:LLY) announced yesterday that it committed $92.5 million to establish a scholarship program at Purdue University.

The funding establishes an innovative new pharmaceutical manufacturing scholarship program. Lilly and Purdue also renewed their strategic research collaboration. This involves a series of moves aimed at expanding their impact in Indiana and improving lives around the world.

Lilly committed $42.5 million over 10 years to fund pharmaceutical manufacturing scholarships for incoming Purdue undergraduate students. Purdue can offer 75-100 students each year full tuition with a guaranteed internship or co-op at Lilly. The university also plans to give priority access to the program to underrepresented undergraduate students. This includes students who overcame socioeconomic or educational disadvantages or represent the first generation in their family to attend college.

“Lilly is among Purdue’s most important partners, an…

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Analysts are bullish on Eli Lilly with its ‘transformative’ drugs

UBS recently issued a report upgrading Eli Lilly (NYSE:LLY) to a “Buy” rating as its diabetes and Alzheimer’s drugs present lucrative opportunities.

According to the report, the pharmaceutical giant’s Mounjaro (tirzepatide) “could be the biggest drug ever.” The type 2 diabetes treatment received FDA approval in May. GlobalData said at the time that tirzepatide could quickly become a mega-blockbuster. Annual sales of the drug could approach $14 billion by 2030, according to Mizuho Securities.

UBS analysts agree, tossing aside previous concerns around data and approval for the drug. Results for the Surmount-1 trial represented a “best-in-class” dataset that included greater than 20% weight loss and other “underappreciated metrics.”

According to UBS, Eli Lilly could hit heights of $25 billion in peak sales for Mounjaro.

The company is investigating tirzepatide for potential indications inclu…

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Sidekick Health and Eli Lilly partner on digital therapeutics for breast cancer

Sidekick Health today announced a collaboration on an integrated digital therapeutics solution in conjunction with Eli Lilly (NYSE:LLY).

The collaboration between the companies will mark the first phase of a relationship between Sidekick and Lilly, which starts with a digital therapeutic offering for patients battling breast cancer.

According to a news release, the first phase will consist of the integrated digital therapeutic offering rollout in Germany. Reykjavik, Iceland-based Sidekick said the further expansion of its portfolio of digital therapeutics into the treatment of breast cancer will be tailored to support the needs of patients within Lilly’s oncology treatment programs.

“We are extremely excited to be announcing our collaboration with Lilly,” Sidekick CEO and co-founder Dr. Tryggvi Thorgeirsson said in the release. “Cancer is one of the leading causes of death worldwide and is sadly a disease that will likely affect e…

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FDA approves Olumiant as first systemic therapy for baldness form 

The FDA has announced that it has approved Lilly’s Olumiant (baricitinib) oral tablets to treat adults with severe alopecia areata, a form of baldness resulting from the body attacking its hair follicles.

Manifesting as patchy baldness, alopecia areata affects more than 300,000 people in the U.S.

The incidence of alopecia areata is growing.

“Access to safe and effective treatment options is crucial for the significant number of Americans affected by severe alopecia,” said Dr. Kendall Marcus, director of the division of dermatology and dentistry in the FDA’s Center for Drug Evaluation and Research, in a news release. “Today’s approval will help fulfill a significant unmet need for patients with severe alopecia areata.”

FDA first approved Olumiant in 2018 for rheumatoid arthritis. In 2022, the drug won an indication for COVID-19 in some hospitalized COVID-19 patients.

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Lilly says proposed $2.1B facility investment could create up to 500 jobs 

Eli Lilly and Company (NYSE: LLY) has announced plans to build two new factories in Indiana. The plants will bolster its supply of active ingredients and new therapeutic modalities.

The plants will be based in LEAP Lebanon Innovation and Research District in Boone County, Indiana.

The proposal could ultimately create as many as 500 new jobs.

The company notes in a press release that the investment is “contingent upon local zoning and annexation approvals.”

Lilly CEO David A. Ricks, who has called for the state to become more competitive, stressed that the company is “committed to investing and innovating in Indiana.”

Eli Lilly was founded in 1876 in Indianapolis, where the company remains headquartered.

“These new sites will add capacity in support of our growing pipeline of innovative medicines, while also creating more high-tech jobs for Hoosiers,” Ricks said in a news release. “We are plea…

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FDA approves Olumiant for treating some hospitalized COVID-19 patients

[Olumiant image courtesy of Lilly]

The JAK inhibitor Olumiant (baricitinib) from Incyte (Nasdaq:INCY) and Lilly (NYSE: LLY) has scored FDA approval to treat hospitalized COVID-19 patients who need help breathing.

In particular, the new indication covers adult patients needing supplemental oxygen, non-invasive or invasive mechanical ventilation or extracorporeal membrane oxygenation.

Olumiant first won FDA approval in 2018 for treating moderately-to-severely active rheumatoid arthritis.

Lilly began testing the drug in hospitalized COVID-19 patients in June 2020. It won emergency use authorization (EUA) for such patients in November of that same year when used with remdesivir.

FDA broadened the EUA in July 2021 to allow its use with or without remdesivir.

Olumiant is the first immunomodulatory therapy to score FDA approval for a COVID-19 indication.

The drug continues to be avail…

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Glooko adds former Eli Lilly exec to its board of directors

Diabetes management technology developer Glooko announced today that it appointed Alfonso “Chito” Zulueta to its board of directors.

Zulueta joins Palo Alto, California-based Glooko’s board having spent more than 30 years with Eli Lilly and Company, serving as a senior executive across an array of global business and commercial units.

Get the full story at our sister site, Drug Delivery Business News.

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10 leading pharma executives you need to know

Pfizer CEO Dr. Albert Bourla [Image courtesy of Pfizer/Business Roundtable]Given the complexity of the pharmaceutical business, it can be challenging to gauge the performance of any chief executive in the space.

That said, CEOs’ annualized return over tenure as CEO over their term can hint at performance. In addition, rating sites like Glassdoor also indicate CEOs’ popularity.

Here, we parsed a range of metrics, including CEOs’ approval ratings, their ability to navigate the pandemic and their firms’ stock performance over time, to identify ten leading pharma executives.

Get the full story from our sister site, Drug Discovery & Development. 

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FDA further limits use of GSK’s and Vir’s SARS-CoV-2 antibody sotrovimab

As the omicron BA.2 subvariant has spread, FDA has announced that it will further constrain the use of the investigational monoclonal antibody sotrovimab. The agency announced that it would limit the use of the antibody in some U.S. regions last week. 

GlaxoSmithKline plc (LSE/NYSE:GSK) and Vir Biotechnology (Nasdaq:VIR) were initially confident that the antibody could hold up to the first omicron subvariant, but the companies have concluded that it is probably ineffective against the BA.2 subvariant. 

The FDA has announced that sotrovimab is not currently authorized in areas where the BA.2 subvariant makes up the majority of COVID-19 infections. These areas include the Northeast, much of the Western part of the country and a portion of the Midwest. 

The FDA has also withdrawn authorization for sotrovimab in Alaska and major U.S. territories, including Puerto Rico. 

Last year, FDA similarly limited the use of Lilly’s bamlanivimab (LY-CoV555)…

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Lilly stops Phase 3 Jardiance trial early thanks to clear positive efficacy data

The independent data monitoring committee overseeing the Phase 3 EMPA-KIDNEY trial investigating Lilly’s (NYSE:LLY) Jardiance (empagliflozin) concluded the therapy showed positive efficacy in a formal interim assessment.

Boehringer Ingelheim co-developed empagliflozin with Lilly.

The EMPA-KIDNEY trial focused on treating adults with chronic kidney disease (CKD).

The committee recommended that the Phase 3 study be stopped early, given clearly positive data.

Earlier, the Medical Research Council (MRC) Population Health Research Unit at the University of Oxford, Boehringer Ingelheim and Eli Lilly and Company (NYSE: LLY), concluded Jardiance met the prespecified positive efficacy criteria.

Jardiance was first FDA approved as a treatment for type 2 diabetes in 2014. An indication followed for reducing the risk of cardiovascular death in adults with type 2 diabetes in 2016.

Approvals followed in 2021 and 2022 for heart failure with r…

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FDA approves Lilly’s Jardiance for heart failure 

Eli Lilly and Company (NYSE:LLY) has announced that the FDA has approved Jardiance (empagliflozin) 10 mg to lower the risk of cardiovascular death and hospitalization in adults with heart failure.

Lilly developed the drug, an SGLT2 inhibitor, in collaboration with Boehringer Ingelheim.

Jardiance is contraindicated in adults with type 1 diabetes, given its potential to elevate the risk of ketoacidosis in such patients.

It is also contraindicated in patients who are hypersensitive to empagliflozin or the excipients in Jardiance.

FDA first approved Jardiance as a treatment for type 2 diabetes in 2014.

In 2016, it won an indication for reducing the risk of cardiovascular death in adults with type 2 diabetes.

Lilly also notes that the drug is not recommended for improving glycemic control in adults with type 2 diabetes with an estimated glomerular filtration rate (eGFR) under 30 mL/min/1.73 m2.

The company notes that the treatment …

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