Eli Lilly and Company (NYSE:LLY) will invest an additional $1.6 billion and create roughly 200 new jobs at two new manufacturing sites within LEAP Innovation Park in Boone County, Indiana. In all, the company has earmarked $3.7 billion for the facilities and plans to create a total of about 700 new jobs. Examples of job…
California partners with manufacturer to make affordable generic insulin
The state of California has established a $50 million collaboration over a decade with the generic drug manufacturer Civica. The goal of the collaboration is to create affordable state-branded generic insulin. Qualified individuals may obtain a 10-mL vial of generic insulin for $30 or less. California plans to provide a pack containing five prefilled 3…
Sanofi joins Lilly and Novo Nordisk in drastic insulin price reductions
Paris-based Sanofi (Nasdaq:SNY) is the fastest company to reduce insulin prices. The pharmaceutical behemoth said it would cut the list price of Lantus (insulin glargine injection) by 78%. Lantus is its most commonly prescribed insulin in the U.S. Moreover, Sanofi will implement a $35 cap on out-of-pocket expenses for users of the insulin. Sanofi has also…
Eli Lilly is cutting the price of insulin by 70%
Eli Lilly (NYSE:LLY) announced today that it plans to execute price reductions of 70% for its most commonly prescribed insulins. Indianapolis-based Lilly also plans to expand its Insulin Value Program. This caps patient out-of-pocket costs at $35 or less per month. The company said it took these actions to “help Americans” in a “complex healthcare…
Eli Lilly to invest $450M in North Carolina diabetes treatment manufacturing facility
Eli Lilly (NYSE:LLY) announced today that it plans to invest an additional $450 million at a North Carolina manufacturing facility. Lilly expects the investment to create at least 100 new jobs at the Research Triangle Park, North Carolina, plant. Its expansion includes additional parenteral filling, device assembly and packaging capacity. Indianapolis-based Lilly said this expansion supports…
Lilly and EVA Pharma partner to improve insulin access in Africa
Eli Lilly and Company (NYSE: LLY) and Egypt-headquartered EVA Pharma have developed a plan to collaborate to supply at least one million people in low- and middle-income countries. Many of the recipients of the vaccines will be in Africa. Roughly a month ago, Lilly’s share price fell about 4% after a fake Twitter account stated…
FDA yanks EUA for Lilly’s bebtelovimab COVID-19 antibody
The FDA has pulled the emergency use authorization (EUA) for bebtelovimab, the monoclonal antibody from Eli Lilly (NYSE:LLY), because it no longer adequately protects against the BQ.1 and BQ.1.1 omicron subvariants. In late November, the BQ.1 variant was responsible for 27.9% of U.S. COVID-19 infections, according to CDC. The BQ.1.1 variant represented 29.4% of infections. Meanwhile,…
Lilly stock dips after fake Twitter profile makes bogus insulin announcement
Eli Lilly‘s (NYSE:LLY) share price dropped about 4% Friday to $352.36 after a fake Twitter account claimed the company would make insulin available at no cost. “We are excited to announce insulin is free now,” read the fake announcement from @EliLillyandCo, which received more than 1,500 retweets and 10,000 likes before Twitter removed the bogus…
Lilly establishing pharmaceutical manufacturing scholarship program at Purdue
Eli Lilly (NYSE:LLY) announced yesterday that it committed $92.5 million to establish a scholarship program at Purdue University. The funding establishes an innovative new pharmaceutical manufacturing scholarship program. Lilly and Purdue also renewed their strategic research collaboration. This involves a series of moves aimed at expanding their impact in Indiana and improving lives around the…
Lilly says proposed $2.1B facility investment could create up to 500 jobs
Eli Lilly and Co. (NYSE: LLY) plans to build two new factories in Indiana. The plants will bolster its supply of active ingredients and new therapeutic modalities. Both will be based in the LEAP Lebanon Innovation and Research District in Boone County, Indiana. The proposal could ultimately create as many as 500 new jobs. The…