|Bid||109.44 x 800|
|Ask||113.85 x 800|
|Day's Range||110.62 - 114.95|
|52 Week Range||84.71 - 132.13|
|Beta (3Y Monthly)||0.42|
|PE Ratio (TTM)||18.09|
|Earnings Date||Jul 30, 2019|
|Forward Dividend & Yield||2.58 (2.24%)|
|1y Target Est||124.71|
Large-cap pharma Eli Lilly And Co (NYSE: LLY) has pulled back significantly from its late-March intra-day high of $132.13. Lilly said the FDA granted the Fast Track designation to empagliflozin, which is being evaluated for the reduction of the risk of cardiovascular death and hospitalization for heart failure in people with chronic heart failure.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on June 25) ArQule, Inc. (NASDAQ: ARQL ) Zai Lab Ltd (NASDAQ: ZLAB ...
INDIANAPOLIS, June 26, 2019 /PRNewswire/ -- Eli Lilly and Company's (LLY) trial studying higher investigational doses of Trulicity® (dulaglutide) met its primary efficacy endpoint of superiority, significantly reducing A1C from baseline in people with type 2 diabetes, compared to once-weekly Trulicity 1.5 mg after 36 weeks. The trial also met the secondary efficacy endpoint for superiority on weight reduction. The safety and tolerability profile of the investigational dulaglutide doses was consistent with the known profile of Trulicity 1.5 mg.
RIDGEFIELD, Conn. and INDIANAPOLIS, June 26, 2019 /PRNewswire/ -- The U.S. Food and Drug Administration (FDA) has granted Fast Track designation to empagliflozin for the reduction of the risk of cardiovascular death and hospitalization for heart failure in people with chronic heart failure, Boehringer Ingelheim and Eli Lilly and Company (LLY) announced. The Fast Track designation facilitates the development of new therapies that fill an unmet medical need for serious conditions in an effort to expedite the availability of new treatment options.
Allergan's (AGN) shares up following a conference call with one of the company's executives, which led an analyst to believe that a split of the company's business is in the cards.
Allergan's (AGN) Botox gets FDA approval for the 10th therapeutic indication, upper limb spasticity in pediatric patients, in the age group of 2 to 17 years.
INDIANAPOLIS , June 19, 2019 /PRNewswire/ -- The board of directors of Eli Lilly and Company (NYSE: LLY) has declared a dividend for the third quarter of 2019 of $0.645 per share on outstanding common ...
Novo Nordisk's (NVO) Victoza gets FDA approval for the treatment of pediatric patients aged 10 years or older with type II diabetes.
Shares of gene-therapy companies shot up on Monday after Pfizer Inc. announced it would acquire cancer drug maker Array BioPharma Inc. in a deal worth up to $11.4 billion.
(Bloomberg) -- Pfizer Inc. will buy Array BioPharma Inc. for $10.6 billion to gain its promising new medicines for cancer, which could end or limit the use of punishing chemotherapy for some patients.The agreed price of $48 in cash is 62% above Array’s close last Friday -- already a record high. The company’s shares have soared thanks to drugs that target a mutation that’s found across a wide variety of tumor types, and could be used in treating a broad set of cancers in patients who carry the mutation. Array’s drugs, Braftovi and Mektovi, are already approved in the U.S. for use in advanced melanoma.Pfizer said in a statement that it will get royalties from the uses of drugs that Array has licensed out to other companies. It will acquire a pipeline of drugs in development, as well as future revenue from Braftovi and Mektovi in some other malignancies, such as colon cancer.Array shares rose 58% in to $46.67 at 9:32 a.m. in New York. Pfizer was little changed.Cancer has become one of the hottest areas for deal activity between drug and biotechnology companies. Research efforts dating back decades have helped scientists understand how genetic mutations cause some cancers to grow, and other scientific advances have helped them learn how tumors evade the body’s defenses. That knowledge has created an array of targets for drugmakers to attack, leading to new tailored therapies often defined by a tumor cell’s specific biology rather than its location in the body.Unlike other biotech stocks, many of which have pulled back from recent 2018 highs, Array’s shares have been on a steady march upward. The stock was already at a record before the deal announcement, following Array’s news last month of positive clinical trial results using Braftovi and Mektovi with Eli Lilly & Co.’s Erbitux. That combination could be the first chemotherapy-free regimen for some patients who have advanced colon cancer.Array’s drug targets a mutation called BRAF, which can show up in some forms of melanoma, colorectal and thyroid cancers, among others. Other drugs on the market target that mutation as well. Roche Holding AG’s Zelboraf is projected to bring in $168.7 million this year, according to a survey of analysts compiled by Bloomberg. Novartis AG’s Tafinlar is used in combination with another drug Mekinist, and the combination is expected to bring in $1.24 billion this year, according to analysts.The deal could also boost other biotech stocks, especially companies with drugs in the later stages of development that could be appetizing for big drugmakers. “We expect this announcement to provide a tailwind for the sector,” said Stephen Willey, an analyst with Stifel Nicolaus & Co. He called the premium for the Array deal appropriate, given the company’s positive clinical trial news.The deal is Pfizer’s biggest since its 2016 acquisition of Medivation for $14 billion, another blockbuster cancer deal that the New York-based company used to expand its oncology offerings. With that takeover, Pfizer gained Xtandi, a prostate cancer drug that last year Xtandi brought it $699 million.“From an overall capital allocation perspective, our priorities don’t change,” Pfizer Chief Financial Officer Frank D’Amelio said on a conference call Monday. The company will continue to look at dividends, buybacks and small or mid-size deals, and doesn’t see the need for a large merger, he said. Pfizer has lagged behind drugmakers like Merck & Co. and Bristol-Myers Squibb Co. that have brought to market best-selling drugs that use the immune system to attack tumors. But the company has acquired or developed a set of other treatments for breast, prostate other cancers that target disease based on its biological profile. Such methods can result in more effective drugs, fewer side-effects, or both.Pfizer plans to fund the deal with a combination of debt and cash. It said it expects the deal to close in the second half of this year. The deal comes with a $400 million termination fee, according to a regulatory filing by Array.Guggenheim Securities and Morgan Stanley & Co. served as Pfizer’s financial advisers, and Wachtell, Lipton, Rosen & Katz gave legal advice. Centerview Partners was Array’s financial adviser, and Skadden, Arps, Slate, Meagher & Flom LLP served as its legal adviser.(Updates with analyst comment in seventh paragraph. An earlier version of this story corrected the description of Pfizer’s advisers in the final paragraph.)\--With assistance from Marthe Fourcade and Cynthia Koons.To contact the reporter on this story: Drew Armstrong in New York at email@example.comTo contact the editors responsible for this story: Drew Armstrong at firstname.lastname@example.org, Cécile DauratFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- Pfizer Inc. is demonstrating once again how expensive it is for pharma firms to buy their way to growth.The company announced Monday morning that it’s paying almost $11 billion for cancer drugmaker Array Biopharma Inc. The deal would bolster Pfizer’s cancer portfolio and add medicines that could meaningfully augment sales and profit. But the company isn’t getting much of a bargain, and its recent track record with a similar deal is a cautionary tale for investors. Pfizer’s relatively anemic projected sales growth and drug pipeline mean that, cost aside, a deal like this makes sense. Cancer is a particularly attractive market for drugmakers, offering both limited pricing pressure and an expanding set of potential treatments and areas to target; Array’s lead medicines Braftovi and Mektovi are already approved for melanoma patients and recently produced promising data in colon cancer. Also, the company has developed drugs for other companies that would net Pfizer royalties. But cost does matter when assessing a deal and in this case it seems excessive. Pfizer is paying a 62% premium on a stock that had already appreciated by more than 100% in recent months. Acquiring drugs that have been approved is always extra expensive, but Pfizer really ponied up here. Pfizer is paying nearly 8 times Array’s projected 2023 sales, which is higher than what GlaxoSmithKline PLC and Eli Lilly Inc. paid in comparable recent deals for Tesaro Inc. and Loxo Oncology Inc., respectively. Array is expected to generate $274 million in revenue this year, and that figure is expected to pass $1 billion by 2022. That growth is still theoretical, though, and the company’s current product roster would have to exceed expectations to justify this price. Its many partnerships with other companies also limit its upside. All of this suggests that Pfizer is also paying up for Array’s extensive drug development expertise and broader pipeline. It could do worse on that front; Array has been unusually successful at inventing medicines. But Pfizer may not be able to retain the scientists that have turned Array into an R&D powerhouse or get the most out of what’s currently in the company’s labs. Pfizer’s last big oncology deal demonstrates the danger of paying up based on optimistic evaluations. The company bought Medivation for a hefty $14 billion in late 2016 for its prostate-cancer drug Xtandi and several pipeline assets. It’s only been about three years, but so far no part of the deal has lived up to Pfizer’s expectations or the price paid. Array may well help Pfizer transition into a more significant player in the cancer market or prove to be a bargain. But there’s a decent chance that we’ll be back for round three in just a few years. To contact the author of this story: Max Nisen at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Eli Lilly (LLY) have what it takes? Let's find out.
U.S. drugmakers on Friday filed a lawsuit to prevent the companies from disclosing the list price of prescription drugs in direct-to-consumer television advertisements as per a newly proposed government regulation. The lawsuit was jointly filed by Amgen Inc, Merck & Co Inc, Eli Lilly and Co and the Association Of National Advertisers in the U.S. district court in Columbia. The new regulation on advertisement, which was finalized on May 8 by the U.S. Department of Health and Human Services (HHS) and takes effect in July, is part of the government's efforts to bring down costs for U.S. consumers.
Key developments of the week include Merck's (MRK) deal to buy Tilos Therapeutics and FDA approval for Roche's (RHHBY) polatuzumab vedotin and Merck's Keytruda.
INDIANAPOLIS, June 14, 2019 /PRNewswire/ -- Eli Lilly and Company (LLY) announced today that the company will present positive findings from the Phase 3b/4 SPIRIT-Head-to-Head (H2H) study in patients with active psoriatic arthritis (PsA) as a late-breaking abstract at the European Congress of Rheumatology (EULAR) in Madrid, Spain on June 15. The assessor-blinded, randomized, controlled trial is the first and only H2H study that utilizes on-label dosing for both Taltz® (ixekizumab) and Humira® (adalimumab) and allows inclusion of concomitant conventional DMARDs. Topline results from the study, which demonstrated Taltz met the primary and all major secondary endpoints, were announced in December 2018.
that forces them to include drug prices in their TV advertisements hinders their free speech. The companies claim the rule exceeds the authority of the federal department that issued it, the health and human services department, and violates First Amendment speech protections.
The FDA confers an orphan drug designation on NuCana's (NCNA) pipeline candidate, Acelarin, for treating patients with biliary tract cancer
The daily On-Balance-Volume (OBV) line has been edging lower recently and the Moving Average Convergence Divergence (MACD) oscillator is crossing to the downside from below the zero line - an outright sell signal. In this weekly bar chart of LLY, below, we can see a mixed to weak picture.
Pfizer's (PFE) study on JAK inhibitor Xeljanz XR demonstrates the efficacy of the medicine when used as a monotherapy without methotrexate.
Galapagos (GLPG) closes enrollment in the phase II study on GLPG1972/S201086 for the treatment of patients with osteoarthritis prior to the stipulated date.