Eli Lilly Archives - Page 2 of 7 - Medical Design Sourcing

California partners with manufacturer to make affordable generic insulin

[Insulin molecular model image Dr_Microbe/Adobe Stock]

The state of California has established a $50 million collaboration over a decade with the generic drug manufacturer Civica. The goal of the collaboration is to create affordable state-branded generic insulin.

Qualified individuals may obtain a 10-mL vial of generic insulin for $30 or less. California plans to provide a pack containing five prefilled 3 mL pens for $55 or less.

Governor Gavin Newsom hopes California’s emergence as an insulin-maker will lead insulin prices to collapse.

Echoing these efforts, President Biden has made it clear that his administration is dedicated to bringing down health care expenses. In that vein, Biden has urged pharmaceutical giants to rein in insulin prices.

Major insulin makers respond to pressure for lower prices

In recent weeks, Eli Lilly (NYSE:LLY), Novo Nordisk (NYSE:NVO) and Sanofi (Nasdaq:SNY) …

Sanofi joins Lilly and Novo Nordisk in drastic insulin price reductions

[Image courtesy of ayo888 via iStock Photo]

Paris-based Sanofi (Nasdaq:SNY) is the fastest company to reduce insulin prices. The pharmaceutical behemoth said it would cut the list price of Lantus (insulin glargine injection) by 78%. Lantus is its most commonly prescribed insulin in the U.S. Moreover, Sanofi will implement a $35 cap on out-of-pocket expenses for users of the insulin.

Sanofi has also pledged to slash the list price of its short-acting Apidra (insulin glulisine injection) 100 units/mL by a 70%.

The company has a 40% share of the U.S. market.

Lilly and Novo Nordisk have similar initiatives

This follows recent announcements from other companies striving to decrease insulin costs. For example, Eli Lilly (NYSE:LLY) committed to capping out-of-pocket expenses for insulin at $35 monthly. Lilly also said it would drop the price of its non-branded insulin to $25 per vial, resulting in cos…

Eli Lilly is cutting the price of insulin by 70%

Eli Lilly (NYSE:LLY) announced today that it plans to execute price reductions of 70% for its most commonly prescribed insulins.

Indianapolis-based Lilly also plans to expand its Insulin Value Program. This caps patient out-of-pocket costs at $35 or less per month.

The company said it took these actions to “help Americans” in a “complex healthcare system” that can keep them from receiving affordable insulin.

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

What to expect in diabetes care in 2023

[Image courtesy of Walmart]

After a banner year for diabetes technology in 2022, there’s still plenty to look forward to in 2023.

Throughout 2022, we saw a wide range of advancements in diabetes technology. We saw launches for next-generation technologies, exciting clinical trial results, and rumored spinouts and acquisitions.

You can read all about the biggest diabetes stories of 2022 here.

There’s plenty to look forward to in the diabetes space in the months ahead. Here are a few things worth keeping an eye on.

CMS decision could benefit CGMs

In October, The Centers for Medicare and Medicaid Services (CMS) published a new local coverage determination (LCD). That LCD modified coverage criteria for continuous glucose monitors (CGMs). The modification includes people with diabetes who receive insulin treatment or have a history of problematic hypoglycemia.

Analysts suggested at the time …

Eli Lilly to invest $450M in North Carolina diabetes treatment manufacturing facility

Eli Lilly (NYSE:LLY) announced today that it plans to invest an additional $450 million at a North Carolina manufacturing facility.

Lilly expects the investment to create at least 100 new jobs at the Research Triangle Park, North Carolina, plant. Its expansion includes additional parenteral filling, device assembly and packaging capacity. Indianapolis-based Lilly said this expansion supports increased demand for its incretin products that treat diabetes.

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

Eli Lilly to invest $450M in North Carolina diabetes treatment manufacturing facility

Eli Lilly (NYSE:LLY) announced today that it plans to invest an additional $450 million at a North Carolina manufacturing facility.

Lilly expects the investment to create at least 100 new jobs at the Research Triangle Park, North Carolina, plant. Its expansion includes additional parenteral filling, device assembly and packaging capacity. Indianapolis-based Lilly said this expansion supports increased demand for its incretin products that treat diabetes.

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

Lilly gets FDA review for empagliflozin in chronic kidney disease

The FDA has accepted a supplemental New Drug Application (sNDA) for Jardiance (empagliflozin) tablets as a potential therapy to reduce the risk of kidney disease progression and cardiovascular death in adults with chronic kidney disease (CKD).

Some 37 million people in the U.S. have CKD.

Lilly (NYSE:LLY) is developing the drug with Boehringer Ingelheim.

The supplemental New Drug Application includes data from the landmark EMPA-KIDNEY Phase 3 study, which found that empagliflozin led to a significant reduction in the risk of kidney disease progression or cardiovascular death in adults with CKD. In the study, the drug on top of standard of care reduced the risk of kidney disease progression or cardiovascular death in adults by 28% compared with placebo.

EMPA-KIDNEY is an abbreviation of Empagliflozin in the Management of Patients with Advanced Chronic Kidney Disease.

The randomized, double-blind, placebo-controlled study (NCT03594110) enroll…

Lilly and EVA Pharma partner to improve insulin access in Africa

Eli Lilly and Company (NYSE: LLY) and Egypt-headquartered EVA Pharma have developed a plan to collaborate to supply at least one million people in low- and middle-income countries. Many of the recipients of the vaccines will be in Africa.

Roughly a month ago, Lilly’s share price fell about 4% after a fake Twitter account stated the company would make insulin available at no cost.

Following that event, Public Citizen and more than 50 other organizations contacted congressional leaders asking for legislation that guarantees more-affordable insulin pricing in the U.S.

Lilly and other insulin providers have faced criticism over pricing.

As part of its environmental, social and corporate governance (ESG) focus, the company has a program known as the Lilly 30×30 initiative, which intends to improve access to quality healthcare for 30 million people in limited-resource settings each year by 2030.

Lilly noted in a press release that the dea…

Eli Lilly discontinues Ypsomed collaboration to pursue its own U.S. insulin pump offering

Ypsomed announced today that Eli Lilly (NYSE:LLY) elected to stop its joint project with the company to enter the U.S. insulin pump market.

In November 2020, the companies entered into a commercialization agreement. The agreement entailed registering and commercializing Ypsomed’s YpsoPump under Lilly’s branding in the U.S. Ypsomed said that, over the past two years, it customized its pump for the U.S. market in preparation for commercialization. Burgdorf, Switzerland-based Ypsomed launched its Mylife YpsoPump in Europe in 2016.

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

Lilly completes acquisition of Akouos

Eli Lilly and Company (NYSE:LLY) announced today that it successfully completed its acquisition of Akouos (Nasdaq:AKUS).

Indianpolis-based Eli Lilly’s acquisition expands its efforts in genetic medicines. Akouos offers a portfolio of potential first-in-class adeno-associated viral gene therapies. The gene therapies treat inner ear conditions, including sensorineural hearing loss.

The company initially announced the acquisition in October. At the time, it said it would pay $487 million upfront, plus a contingent value right for an aggregate amount up to approximately $610 million.

“Akouos brings more top-tier talent and an important pipeline to Lilly’s Institute for Genetic Medicine that will further accelerate our work to advance genetic medicines for people living with difficult-to-treat diseases,” said Andrew C. Adams, SVP of genetic medicine at Lilly and co-director of the Institute for Genetic Medicine. “We look forward …

FDA yanks EUA for Lilly’s bebtelovimab COVID-19 antibody

The FDA has pulled the emergency use authorization (EUA) for bebtelovimab, the monoclonal antibody from Eli Lilly (NYSE:LLY), because it no longer adequately protects against the BQ.1 and BQ.1.1 omicron subvariants.

In late November, the BQ.1 variant was responsible for 27.9% of U.S. COVID-19 infections, according to CDC. The BQ.1.1 variant represented 29.4% of infections. Meanwhile, the BA.5 variant made up 19.4% of infections. The BQ.1 and BQ.1.1 variants are likely to grow even more prevalent in the coming weeks.

FDA authorized bebtelovimab in February, which remained effective against the original omicron variant.

Bebtelovimab was the last monoclonal antibody to have an EUA. However, FDA has suspended its authorizations of several other such antibodies during the pandemic with the rise of COVID-19 variants that elude them.

An FDA Health Care Provider Fact Sheet stated that several variants, including the omicron subvariants BQ.1 and BQ.1.1, we…

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…