Eli Lilly News

Eli Lilly and Co reported lower-than-expected quarterly revenue on Thursday, hurt by disappointing sales of its cancer and diabetes drugs, and its shares fell more than 3 percent.

Ladies and gentlemen, thank you for standing by and welcome to the Eli Lilly First Quarter 2014 Earning Call.

Medical device maker Zimmer Holdings Inc said it would buy orthopedic products company Biomet Inc in a deal valued at about $13.35 billion to broaden its portfolio of products that treat bone and joint-related disorders.

Eli Lilly and Co. has announced that they will be putting their stomach cancer drug, Cyramza , on the market after it received federal marketing approval by the FDA this past Monday.

Eli Lilly's first-quarter earnings plunged 53 percent after the expiration of a key patent protecting its top-selling antidepressant cut into the drugmaker's revenue.

The company said Thursday that its net profit of nearly $2.97 billion, which was up from $2.42 billion in the same period last year, was helped by sales growth from some of its newest product launches, such as Gilenya for multiple sclerosis and Afinitor for cancer.

The firm currently has a "hold" rating on the stock. Jefferies Group's price objective suggests a potential upside of 0.74% from the company's current price.

That's the strategy the drug industry is following in a wave of deals where small companies are getting bigger and the big ones are getting smaller.

Are corporate profits at all-time highs? Not exactly. Are Americans getting full-time jobs like we've never seen before? That's a definitive no.

Let's take a look at today's top stories in biotech and health care. Keep an eye out for Eli Lilly ( Novartis brokers multibillion dollar deals with Eli Lilly and GlaxoSmithKline Fresh off the rumor that Pfizer was looking to buyout fellow pharma behemoth AstraZeneca , Novartis pushed through two major deals yesterday with Eli Lilly and ... (more)

Shares were mixed in Asia on Wednesday, as weak data from China sapped upward momentum from an overnight rally on a flurry of deals in the pharmaceutical sector.

Animal health is a $24 billion-a-year global business, with steady growth that is projected to nearly double in the next four years.

Drugmakers eager to satisfy shareholders by boosting profits and share prices are wheeling, dealing and in one case even making trades like a pro sports team looking to shake up its roster.

Yesterday in a move that returned attention to healthcare takeovers, Bill Ackman, CEO of the hedge fund Pershing Square Capital, announced a bold and unusual move by partnering with pharmaceutical company, Valeant Pharmaceuticals International plc's cancer-drug business for $14.5 billion and will sell most of its vaccine business to GSK for $7.1 ... (more)

The Jan 11, 2011 file photo shows tram wires outside the Novartis headquarters in Basel, Switzerland.

Novartis AG agreed to buy GlaxoSmithKline Plc's cancer drugs for as much as $16 billion while selling most of the company's vaccines division to Glaxo for $7.1 billion and its animal-health unit to Eli Lilly & Co.

Eli Lilly and Co said on Tuesday it will buy Swiss drugmaker Novartis AG's animal health business for $5.4 billion in cash to strengthen and diversify its Elanco unit.

Eli Lilly and Co said on Tuesday it will buy Novartis AG's animal health business for $5.4 billion in cash to strengthen and diversify its Elanco unit.

With this approval, CYRAMZA becomes the first FDA-approved treatment for patients in this setting.

U.S. health regulators on Monday approved an Eli Lilly and Co drug to treat advanced stomach cancer and a form of cancer in the area where the esophagus joins the stomach.