Lilly Eli & Co Stock Price, News & Analysis

Eli Lilly and Company (NYSE: LLY) will announce its third-quarter 2022 financial results on November 1, 2022. The announcement will be followed by a conference call at 9 a.m. Eastern time to discuss the financial performance in detail. Investors and the public can access a live webcast via the company's investor relations website. Lilly continues to innovate in healthcare, enhancing diabetes care, obesity treatments, Alzheimer's, and immune system disorders, benefiting over 47 million people globally.

Eli Lilly has announced a definitive agreement to acquire Akouos, valued at $487 million with potential additional payouts of up to $610 million. This acquisition aims to enhance Lilly's gene therapy capabilities for treating hearing loss. Akouos specializes in developing innovative adeno-associated viral gene therapies for inner ear conditions, including its lead candidate AK-OTOF for otoferlin gene mutations. The deal, approved by both companies' boards, secures Lilly a premium of 121% over Akouos's stock price before the announcement, with expectations to close in Q4 2022.

Eli Lilly and Company (NYSE: LLY) declared a dividend of $0.98 per share for Q4 2022, payable on Dec. 9, 2022, to shareholders of record on Nov. 15, 2022. This reflects Lilly’s commitment to returning value to investors. The company emphasizes its dedication to delivering innovative medicines and advancing biotechnology to tackle health challenges. Forward-looking statements are included, covering potential risks and uncertainties in pharmaceutical development that may affect future results.

Eli Lilly (NYSE: LLY) announced that the FDA has granted Fast Track designation for tirzepatide, aimed at treating adults with obesity or overweight related comorbidities. This designation accelerates the drug’s path for FDA submission, with a rolling NDA submission planned based on results from two Phase 3 trials: SURMOUNT-1 and SURMOUNT-2. Positive outcomes from these trials could expedite the approval process. Lilly emphasizes its commitment to addressing obesity, a significant health challenge in the U.S., affecting nearly 100 million adults.

Eli Lilly announced the FDA approval of Retevmo® (selpercatinib) for adult patients with locally advanced or metastatic solid tumors exhibiting a RET gene fusion, after previous treatments or lacking alternatives.

The approval is based on tumor-agnostic data from the LIBRETTO-001 trial, showing a 44% overall response rate across various cancers. The FDA also granted traditional approval for Retevmo in adult patients with non-small cell lung cancer (NSCLC) with RET fusion.

Warnings for Retevmo include hepatotoxicity and interstitial lung disease.

Eli Lilly announced positive results from its Phase 3 trials for lebrikizumab, an IL-13 inhibitor for atopic dermatitis (AD). Responders at Week 16 maintained skin clearance and itch relief after a year of treatment, with similar efficacy between every four weeks and every two weeks dosing. Regulatory submissions to the U.S. FDA and EU EMA are planned for this year. Notably, the trials showed a stable safety profile, with most adverse events being mild to moderate.

Eli Lilly and Company (NYSE: LLY) announced its participation in the 2022 European Society for Medical Oncology (ESMO) Congress, scheduled for September 9-13, 2022. The company will present key data on its drugs Verzenio® (abemaciclib) and Retevmo® (selpercatinib). Highlights include interim overall survival results from the Phase 3 MONARCH 3 study for Verzenio in advanced breast cancer, and long-term follow-up data for Retevmo in medullary thyroid cancer and non-small cell lung cancer. These presentations aim to advance understanding and treatment options in oncology.

Eli Lilly (NYSE: LLY) will attend the Morgan Stanley 20th Annual Global Healthcare Conference on Sept. 13, 2022. Anat Ashkenazi, the company's CFO, will take part in a fireside chat at 11:10 a.m. Eastern time.

A live audio webcast of the event will be accessible on Lilly's Investor website, with a replay available for 90 days. Lilly has a legacy of nearly 150 years in pioneering medicines that improve lives, helping over 47 million people globally, and is focused on addressing major health challenges.

Eli Lilly and Company (NYSE: LLY) will participate in Citi's 17th Annual BioPharma Conference on September 7, 2022. Daniel Skovronsky, M.D., Ph.D., the company's chief scientific and medical officer, will engage in a fireside chat at 3:30 p.m. ET. A live audio webcast will be accessible via Lilly's Investor website, with a replay available for approximately 90 days.

For over 150 years, Lilly has focused on creating innovative medicines, helping over 47 million people globally. Their ongoing research aims to address critical health challenges, including diabetes, obesity, and Alzheimer's disease.