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A restructuring Eli Lilly and Co. (NYSE:LLY), which faces patent losses on 80% of its key drugs by 2013, will report third-quarter earnings on Wednesday. A live Webcast of the conference call will be held from 9 a.m. to 10 a.m. Of first note, Lilly will take a 23...
Posted on October 19, 2009 10:45 AM
Regarding biotech M&A, Credit Suisse Group AG (NYSE:CS) doesn't think there will be more megamergers in the next 12 to 18 months -- we could have told you that. CS did list, however, what it sees as smaller prime acquisition targets alongside possible suitors: Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) by Abbott...
Posted on September 18, 2009 12:29 PM
Eli Lilly & Co. (NYSE:LLY) is digesting its acquisitions of ImClone Systems Inc. for $6.5 billion and Monsanto Co.'s dairy cow hormone for $300 million, and it is preparing for tough times ahead when some major patents will face generic competition.Along with cutting 5,550 jobs, the company is undergoing...
Posted on September 14, 2009 12:46 PM
In a broader effort to focus on its human pharmaceutical business and raise cash (as well as investor confidence), Indian generic drug maker Wockhardt Ltd. is selling its animal health division to France's Vétoquinol. The deal marks Vétoquinol's entrance into India. Earlier this month, Wockhardt sold its German business Esparma...
Posted on June 29, 2009 3:29 PM
In an interesting play, four rival drug giants are using their venture capital arms to back a company they think has come up with a major new class of therapeutics. Biotech company Aileron Therapeutics received financing from GlaxoSmithKline plc (NYSE:GSK), Novartis AG (NYSE:NVS), Roche Holding AG (SWX:ROG) and Eli Lilly...
Posted on June 8, 2009 3:30 PM
London-based pharma market intelligence report publisher URCH Publishing, which itself recently acquired pharma research firm Spectra Intelligence, is making predictions about who among the top 10 pharmas will follow in the footsteps of the sector's three biggest deals this year, with Bristol-Myers Squibb Co. (NYSE:BMY), Bayer AG and Novartis...
Posted on April 23, 2009 9:14 AM
Eli Lilly & Co. (NYSE:LLY) CEO John Lechleiter (pictured) wants to stop the mega-merger madness. He told the Financial Times the recent big drug mergers are "driven more by weakness" and are short-term fixes that fail to address long-term productivity problems. He specifically rejected the idea of a combo with...
Posted on March 30, 2009 2:04 PM
Bristol-Myers Squibb Co. said its net earnings for the third quarter increased to about $2.6 billion from $858 million in the previous year's period. The New York-based pharma giant now has about $7.2 billion cash on hand, too. In a conference call, chairman and CEO James Cornelius said "we have a long list of companies, compounds, technologies we'd like to acquire over the next couple...
Posted on October 24, 2008 12:18 PM
To expand its presence in China, Schering-Plough Corp. bought out two local joint venture partners. Schering-Plough started the ventures with Shanghai Pharmaceutical Industry Co. and Shanghai Pharmaceutical Group Co. in 1994. Both companies manufacture allergy and skincare products. Schering will combine the two companies into a subsidiary named Shanghai Schering-Plough...
Posted on August 12, 2008 5:19 PM
Deals between Chinese and Western bio and pharma companies continue apace. The latest: WuXi PharmaTech (Cayman) Inc. and Princeton, N.J.-based Covance Inc. are creating a 50-50 joint venture to provide preclinical contract research services in China. In addition to the facility, which will be provided by WuXi, Covance anticipates...
Posted on June 26, 2008 12:52 PM
Ringo's tall order at PfizerNew Pfizer Inc. dealmaker William Ringo has quite a job ahead. The longtime drug executive -- he spent nearly three decades at Eli Lilly and Co., then was CEO at biotech Abgenix Inc., which he helped sell to Amgen Inc. for $2 billion, and most recently...
Posted on March 12, 2008 1:38 PM
As we reported in the May-June 2005 issue of our magazine (available in our magazine archives), Cardinal Health Inc. turned cautious for a while when it came to deals. But with Tuesday's all-cash $490 million deal for privately held Enturia Inc., coming eight months after a $1.5 billion deal for...
Posted on March 5, 2008 7:24 AM
William Ringo has one heck of a job ahead of him as Pfizer Inc.'s new deal guy. The longtime Eli Lilly and Co. executive and former CEO of biotech Abgenix Inc. joins the pharma giant as CEO Jeffrey Kindler comes under fire for his inability to turn the company around.Kindler...
Posted on March 4, 2008 11:20 AM
A groundbreaking development deal between Eli Lilly and Hutchison MediPharma highlights the growing sophistication of China's pharma market.
Posted on December 15, 2007 1:29 PM
Procter & Gamble Co. didn't start NineSigma Inc., but it is the key backer and most important customer of the small e-R&D company. In 2003 P&G announced a strategic relationship with the Cleveland-based firm, and in September, Paul Stiros left P&G to become its president. Meanwhile, another young e-R&D...
Posted on February 15, 2005 1:05 PM
Eli Lilly and Co. spent $2.4 billion on life-science R&D last year, exploring everything from antisense technology to synthetic exendin-4. But the biggest experiment under way at the company isn't taking place in a lab or a clinic. And the results of that experiment - highly promising so far...
Posted on August 15, 2004 5:45 PM
Patricia Martin has been an energetic advocate, both inside and outside Eli Lilly and Co., for a simple idea. "There's life after the deal," she says. "And it's worth paying attention to." That in a nutshell is the mission of Lilly's Office of Alliance Management, which monitors, supports and helps...
Posted on August 15, 2004 2:44 PM
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