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News Breaks
April 22, 2014
10:36 EDTLLY, NVSEli Lilly sees Novartis deal as accretive on a cash basis by 2016
Eli Lilly (LLY) sees acquisition of Novartis (NVS) Animal Health generating over $200M in annual cost synergies within three years post-closing. In the slides presentation accompanying the conference call for the deal, Lilly sees combined business to generate mid-20% EBIT margin by 2017-2018. Lilly sees the deal as accretive on a cash basis by 2016 excluding integration costs by 2017.
News For LLY;NVS From The Last 14 Days
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October 2, 2014
10:00 EDTNVS, LLYZimmer antitrust probe extended, Lilly/Novartis deal cleared by EU, Reuters says
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08:35 EDTLLYEli Lilly to discontinue Tabalumab development based on Phase 3 lupus results
Eli Lilly will discontinue development of tabalumab­, being studied for the treatment of systemic lupus erythematosus, commonly known as lupus, due to insufficient efficacy in two pivotal Phase 3 trials. The decision was not based on safety concerns. The decision to discontinue development of tabalumab for lupus is expected to result in a Q3 charge to research and development expense of up to $75M pretax, or approximately 4c-5c per share after-tax.
07:35 EDTNVSIncyte earns $60M milestone payment from Novartis related to Jakavi
Incyte (INCY) announced that it has earned a $60M milestone payment from Novartis (NVS) related to reimbursement of Jakavi in Europe. Incyte will record this amount as contract revenue in Q3, and expects to receive payment of $60M in Q4. Under the Incyte-Novartis Collaboration and License Agreement signed in 2009, Novartis received exclusive development and commercialization rights to ruxolitinib outside of the U.S. for all hematologic and oncologic indications, and sells ruxolitinib under the name Jakavi. Ruxolitinib is marketed by Incyte in the U.S. as Jakafi. The achievement of this milestone also triggers the obligation for Incyte to pay tiered, low-single digit royalties to Novartis on all future sales of Jakafi in the U.S.
October 1, 2014
16:18 EDTNVSNovartis Bioventures reports 21.3% stake in Tokai Pharmaceuticals
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08:07 EDTNVSEnanta regains full rights to EDP-239 for Hep C virus from Novartis
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September 30, 2014
16:39 EDTLLY, NVSCMS discloses drug makers' payments to doctors, WSJ says
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07:30 EDTLLY, NVSSachs Associates to hold a conference
14th Annual Biotech in Europe Forum for Global Partnering and Investment to be held in Basel, Switzerland on September 30-October 1.
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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