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Stock Market & Financial Investment News

News Breaks
April 22, 2014
05:38 EDTLLY, NVSEli Lilly acquires Novartis Animal Health for $5.4B in all-cash transaction
Eli Lilly (LLY) announced an agreement to acquire Novartis (NVS) Animal Health for approximately $5.4B in an all-cash transaction that will strengthen and diversify Lilly's own animal health business, Elanco. Upon completion of the acquisition, Elanco will be the second-largest animal health company in terms of global revenue, will solidify its number two ranking in the U.S., and improve its position in Europe and the rest of the world. Lilly will acquire Novartis Animal Health's nine manufacturing sites, six dedicated research and development facilities, a global commercial infrastructure with a portfolio of approximately 600 products, a robust pipeline with more than 40 projects in development, and an experienced team of more than 3,000 employees. Under the terms of the agreement, Lilly will acquire all assets of Novartis Animal Health for a total purchase price of approximately $5.4B, including anticipated tax benefits. Lilly plans to fund this acquisition with approximately $3.4B of cash-on-hand and $2B in debt to be issued. No other financial terms of the transaction are being disclosed. The transaction is expected to close by the end of 1Q15, subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, similar requirements outside the U.S., and other customary closing conditions. The transaction is not subject to any financing conditions.
News For LLY;NVS From The Last 14 Days
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September 29, 2014
08:07 EDTNVSPhase 2 trial of binimetinib in NRAS melanoma shows promising clinical activity
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September 26, 2014
07:30 EDTNVSNovartis drug Signifor LAR recommended by CHMP for EU approval
The Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency, or EMA, adopted a positive opinion for Signifor long acting release, or LAR, formulation to treat adult patients with acromegaly for whom surgery is not an option or has not been curative and who are inadequately controlled on treatment with a first-generation somatostatin analogue, or SSA. If approved in the EU, this next-generation SSA could fill a current unmet need, providing a new therapeutic option for the approximately 45% of acromegaly patients whose growth hormone, or GH, or insulin-like growth factor-1, or IGF-1, levels remain inadequately controlled despite treatment with currently available SSAs.
September 25, 2014
05:28 EDTNVSNovartis AIN457 meets primary endpoint in two Phase III studies
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September 23, 2014
09:00 EDTLLYBofa/Merill special situations team to hold an analyst/industry conference call
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September 22, 2014
16:07 EDTNVSAnacor announces commercial launch of KERYDIN topical solution in U.S.
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07:21 EDTLLYEBD Group to hold a conference
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September 18, 2014
15:57 EDTLLYFDA approves Trulicity with boxed warning, post-marketing study requirements
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15:55 EDTLLYFDA approves Eli Lilly type 2 diabetes drug
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11:15 EDTLLYRepros sinks after panel backs tests for testosterone therapies
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08:12 EDTLLYEli Lilly's Cyramza for gastric cancer shows positive Phase 3 results
Eli Lilly announced results of the global Phase III trial of ramucirumab - CYRAMZA - in combination with paclitaxel in patients with advanced gastric cancer or gastroesophageal junction adenocarcinoma. The addition of ramucirumab to paclitaxel showed a statistically significant improvement in median overall survival, meeting its primary endpoint; it also met secondary endpoints of progression-free survival and objective response rate. Data from the trial were first presented in January. Ramucirumab has now been the focus of two positive Phase III gastric cancer trials that have demonstrated statistically significant improvements in both overall survival and progression-free survival.
08:01 EDTLLYDow AgroSciences announces R&D agreement with Lilly's Elanco
Two Indiana agricultural companies, Elanco, the animal health division of Eli Lilly and Company (LLY), and Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company (DOW), are announcing a strategic research and development agreement that will focus on developing integrated solutions to enable livestock producers to increase meat and milk production to meet the demands of the growing global population.
06:10 EDTLLYFDA panel votes 20-1 to study changes to testosterone therapies
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September 17, 2014
07:39 EDTLLYMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.
September 16, 2014
12:35 EDTLLYDenovo Biopharma acquires late-stage oncology drug enzastaurin from Eli Lilly
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07:31 EDTNVS, LLYEuropean Association for Study of Diabetes to hold annual meeting
50th Annual Meeting of EASD to be held in Vienna, Austria on September 15-19.
07:02 EDTLLYEli Lilly and AstraZeneca to co-develop and commercialize AZD3293
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06:27 EDTLLYAstraZeneca, Eli Lilly to jointly develop, commercialize AZD3293
AstraZeneca (AZN) and Eli Lilly (LLY) announced an agreement to jointly develop and commercialize AZD3293, an oral beta secretase cleaving enzyme inhibitor currently in development as a potential treatment for Alzheimer's disease. AZD3293 has been shown in Phase I studies to significantly and dose-dependently reduce levels of amyloid beta in the cerebro-spinal fluid of Alzheimer's patients and healthy volunteers. AstraZeneca announced earlier in 2014 its plan to move AZD3293 into registration trials. Under the terms of the agreement, Lilly will pay AstraZeneca up to $500M in development and regulatory milestone payments. AstraZeneca expects to receive the first milestone payment of $50M in the 1H15. The companies will share all future costs equally for the development and commercialization of AZD3293, as well as net global revenues post-launch. AstraZeneca and Lilly aim to progress AZD3293 rapidly into a Phase II/III clinical trial in patients with early Alzheimer's disease. Lilly will lead clinical development, working with researchers from AstraZeneca's Innovative Medicines Unit for neuroscience, while AstraZeneca will be responsible for manufacturing. The companies will take joint responsibility for commercialization of AZD3293. The agreement is subject to customary terms and conditions. It will have no impact on AstraZeneca's 2014 Core Earnings per Share.

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