Lilly Eli & Co Stock Price, News & Analysis

Eli Lilly and Company (NYSE: LLY) will participate in the 41st Annual J.P. Morgan Healthcare Conference on January 10, 2023. CEO David A. Ricks will engage in a fireside chat at 6:45 p.m. Eastern time. The session will be available via live audio webcast on Lilly's Investor website, with a replay accessible for 90 days afterwards. Lilly has a long history of innovation, helping over 47 million people globally through advanced medicines. The company focuses on addressing significant health challenges, including diabetes and Alzheimer's.

Eli Lilly and ProQR Therapeutics announced an expanded collaboration on December 22, 2022, focusing on genetic medicines utilizing ProQR's Axiomer RNA editing technology. The partnership, originally established in September 2021, will now target additional disorders affecting the central and peripheral nervous systems. ProQR will receive $75 million upfront and an option for an additional $50 million. The total potential value of the collaboration is approximately $3.75 billion in milestones and royalties. This collaboration aims to develop innovative treatments for diseases with significant unmet needs.

Eli Lilly has announced a collaboration with EVA Pharma to provide affordable insulin to over one million people in low- to middle-income countries, primarily in Africa. As part of this initiative, Lilly will supply active pharmaceutical ingredients at reduced costs and offer pro-bono technical support for manufacturing. The partnership aims to increase insulin accessibility by empowering local production, with plans to distribute products within 18 months and reach annual targets by 2030. This aligns with Lilly's broader goal to improve healthcare access for 30 million individuals by 2030.

Eli Lilly announced its 2023 financial guidance, projecting revenue between $30.3 billion and $30.8 billion, driven by volume growth from key products. Expected EPS is $7.65 to $7.85 (reported) and $8.10 to $8.30 (non-GAAP). Highlights include potential product launches and ongoing clinical trials for treatments targeting obesity and Alzheimer's. The company anticipates a fifth consecutive annual dividend increase of 15%. Lilly reaffirmed its 2022 guidance, emphasizing an optimistic outlook bolstered by new product launches and pipeline advancements.

Eli Lilly (NYSE: LLY) announced promising results from the BRUIN Phase 1/2 trial for pirtobrutinib, a reversible Bruton's tyrosine kinase inhibitor, at the 2022 ASH Annual Meeting. In chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL) patients, it achieved an overall response rate (ORR) of 82% with a median progression-free survival (PFS) of 19.6 months. For mantle cell lymphoma (MCL), the ORR was 58%. Notably, pirtobrutinib showcases activity in patients previously treated with covalent BTK inhibitors, addressing key unmet needs.

The board of directors of Eli Lilly and Company (NYSE: LLY) has announced a 15% increase in its quarterly dividend, setting the first quarter 2023 dividend at $1.13 per share. This dividend is scheduled for payment on March 10, 2023, to shareholders on record as of February 15, 2023.

This decision highlights Lilly's commitment to returning value to shareholders while continuing to advance its innovative healthcare solutions for various diseases.

The DINAMO phase III trial showed that Jardiance (empagliflozin) significantly reduces HbA1c levels in children and adolescents aged 10-17 with type 2 diabetes, marking it as the first SGLT2 inhibitor to achieve this in a pediatric population. The study demonstrated a reduction of 0.84% in HbA1c at 26 weeks compared to placebo (P=0.012). Safety data were consistent with prior adult studies, reinforcing its safety profile. With rising pediatric diabetes cases, these findings highlight an unmet therapeutic need, particularly for oral agents beyond metformin.

On December 6, 2022, Eli Lilly announced updated results from the Phase 3 monarchE trial of adjuvant Verzenio (abemaciclib) for high-risk early breast cancer patients. With a median follow-up of 3.5 years, an absolute improvement in invasive disease-free survival (IDFS) and distant relapse-free survival (DRFS) was demonstrated at four years, showing 6.4% and 5.9% benefits, respectively. The trial included 5,637 patients and showed a 33.6% reduction in the risk of developing invasive disease. While overall survival data are still immature, administration of Verzenio remains safe and well-tolerated.

Eli Lilly has successfully completed its acquisition of Akouos, enhancing its focus on genetic medicines. The acquisition, valued at $12.50 per share plus contingent value rights, aims to integrate Akouos's innovative gene therapies targeting inner ear conditions, including hearing loss. As of the acquisition date, 81.1% of Akouos's shares were tendered. Post-acquisition, Akouos will be a wholly owned subsidiary of Lilly, and its shares will be delisted. The deal includes potential milestone payments based on the progress of Akouos's clinical trials.