Swiss pharma giant Roche had a limited presence in metabolic disease, but the firm has agreed to take over obesity drug developer Carmot Therapeutics for $2.7 billion, rivaling the dominance of next-gen obesity drug developers Novo Nordisk and Eli Lilly. Carmot had been a rising star in biotech, attracting significant funding, including a $150 million…

Eli Lilly and Company has recently received its third FDA rejection for the year 2023. The most recent came for lebrikizumab, the company’s investigational treatment for atopic dermatitis. FDA made the decision following an inspection of a third-party contract manufacturing organization. The agency had no complaints concerning the clinical data, safety, or labeling of lebrikizumab,…

Eli Lilly and Company (NYSE: LLY) has announced its plan to issue €600 million in aggregate principal in the amount of 0.50% notes with 12-year maturity as part of its Environmental, Social and Governance (ESG) strategy. In May, the company announced that it had updated its Environmental, Social and Governance (ESG) strategy, bolstering its investment…

The spread of SARS-CoV-2 variants has convinced the U.S. government to stop using Lilly’s COVID-19 monoclonal antibody therapy bamlanivimab when used alone. The U.S. government will continue using bamlanivimab when paired with etesevimab, another monoclonal antibody. The government pointed to the rising number of SARS-CoV-2 variants across the country as the reasoning behind the decision.…

Eli Lilly (NYSE:LLY) has announced that its chief financial officer Joshua Smiley has resigned. An independent investigation with external counsel discovered “consensual though inappropriate” communications between Smiley and a number of employees, according to a Lilly statement.  Lilly has installed a replacement, Anat Ashkenazi, who has worked at the company for almost 20 years. “We are…