eli lilly

World Drug Sales to Hit $880 Billion in 2011

Global pharmaceutical sales are expected to grow by 5% to 7% in 2011 to around $880 billion, thanks to robust growth in emerging markets, especially China, as well as new innovative treatments, and despite patent expirations and budget pressures in the developed world.

Pharmas Probed Over Foreign Bribery Allegations

Federal investigators are looking into allegations that major drug companies, including Merck, AstraZeneca, Bristol-Myers Squibb and GlaxoSmithKline, paid bribes overseas to boost sales and accelerate approvals.

The High Costs of Dementia Are Set to Soar Worldwide

Its total worldwide costs for 2010 are estimated to be $604 billion, or around 1% of the world's GDP, according to World Alzheimer Report 2010 from Alzheimer's Disease International. By 2030, that burden could hit more than $1.1 trillion.

Eli Lilly Shelves Potential Alzheimer's Drug

Eli Lilly said Tuesday it is halting the development of an Alzheimer's treatment after studies showed the experimental drug semagacestat not only failed to slow the disease's progression, it actually reduced patients' cognition.

Deutsche Bank Initiates Coverage of Biotech Stocks

Several biotech stocks were on the move Monday after Deutsche Bank initiated coverage on some of them. The bank's analyst, Robyn Karnauskas, took a generally wary view on the biotech sector, only putting buy ratings on Gilead and Dendreon.

Legal Briefing: Blog Was Violent Threat, Not Free Speech

In a case that tested the bounds of the First Amendment, Hal Turner, a right-wing radio shock jock, was convicted of threatening three judges' lives in his blog post. Plus, Eli Lilly loses a patent case for ADHD drug Strattera.

Legal Briefing: More Cases Under the Foreign Corrupt Practices Act

Foreign subsidiaries of two American tobacco companies pled guilty to charges of bribing foreign countries. Units of Alliance One Int'l, a N.C.-based global tobacco leaf company, admitted bribing Thai and Kyrgyz officials and will pay $9.25 million in fines and disgorge $10 million in profits.

Amylin Shares Jump as Roche Delays Diabetes Drug

Pharmaceutical giant Roche said Friday that it would delay an FDA filing for its new diabetes drug for 12 to 18 months due to safety concerns. The beneficiary of Roche's misfortune is rival Amylin, which now jumps ahead in the race to get first approval of a once-weekly injectable type 2 diabetes drug.

Markets Hit 18-Month High on Positive Inflation Outlook

The markets continued to rack up gains with the Dow Jones Industrial Average, S&P 500 and NASDAQ all closing Wednesday at 18-month highs, boosted by signs that the Federal Reserve intends to keep interest rates at rock-bottom levels for some time, indicating that the Fed isn't worried about inflation.

Marketing Fines: A Cost of Business for Pharma?

The FDA has nearly doubled the warning letters it's sent to drugmakers for questionable promotion in the past year. But some critics say the fines don't go far enough, and that Big Pharma merely views the penalties as the price of doing business.

Big Pharma Is Still Cutting Jobs, at Least in the West

First it was restructurings to adjust to fewer patented blockbusters. Then it was the recession. Now it's just more of the same as SmithKlineGlaxo and AstraZeneca add to the unemployment rolls. In the West, that is. Hiring is strong in emerging markets.

Preview: Look for Eli Lilly to Report a Solid Quarter

Pharmaceutical giant Eli Lilly -- maker of Prozac and Cialis -- is expected to post solid fourth-quarter profits on Thursday after a recent restructuring. But the results will likely be lower than the year-ago quarter.

Drug Approval Lifts Novo Nordisk, Amylin Stock

Federal regulators approved Novo Nordisk's new once-daily injection for treating Type 2 diabetes Victoza, driving shares higher. Shares of Amylin Pharmaceuticals also rallied as the approval of Victoza raises hopes that Amylin's rival drug will also get the greenlight.

Health-Care Sector Appears to Rally As Reform Chances Dim

President Obama can't be pleased by the loss of a Democratic Senate seat which jeopardizes passage of his cherished health-care reform. The news, however, appears to have fueled a mini stock rally in the health-care and pharma sectors wary of how any reform would affect their businesses. The uptrend is expected to continue.

Roche Diabetes Drug Makes Waves

The U.S. diabetes drug market just got a little more competitive. Swiss drugmaker Roche (RHHBY) said Wednesday an experimental medicine in late-stage development works better in treating type 2 diabetes than Merck (MRK) Januvia, according to a clinical study.