Lilly Eli & Co Stock Price, News & Analysis

Eli Lilly and Company (NYSE: LLY) is enhancing its partnership with Life for a Child (LFAC) to tackle diabetes care inequities for youth. Starting February 2021, access for approximately 150,000 children in 65 countries is expected to increase over the next decade, growing from 23,000. The partnership aims to provide vital diabetes management resources including insulin and education. Lilly has already donated 2.4 million insulin vials since 2009. The initiative complements Lilly's 30x30 program, aiming to assist 30 million people yearly by 2030.

Eli Lilly (NYSE: LLY) has signed a license agreement with Asahi Kasei Pharma to acquire exclusive rights for AK1780, a P2X7 receptor antagonist aimed at treating neuroinflammation linked to chronic pain. Under the agreement, Lilly will pay an upfront fee of $20 million, with potential milestone payments totaling $210 million. Asahi Kasei Pharma will retain promotion rights in Japan and China, and could earn up to $180 million in sales milestones. This transaction is not expected to alter Lilly's non-GAAP earnings guidance for 2021.

Eli Lilly (LLY), Vir Biotechnology (VIR), and GlaxoSmithKline (GSK) announced a collaboration to evaluate the combination of their COVID-19 therapies in low-risk patients with mild to moderate COVID-19. The expanded BLAZE-4 trial will assess bamlanivimab (700mg) with VIR-7831 (500mg), both neutralizing antibodies targeting SARS-CoV-2. This marks the first cross-company monoclonal antibody collaboration. Bamlanivimab is authorized for emergency use, while VIR-7831 is investigational. The trial aims to determine if this combination therapy can improve treatment outcomes.

Eli Lilly announced that the combination of bamlanivimab (LY-CoV555) and etesevimab (LY-CoV016) significantly reduced COVID-19-related hospitalizations and deaths in high-risk patients, achieving a 70% risk reduction in the Phase 3 BLAZE-1 trial. Among 1,035 participants, only 11 events occurred in the treatment group versus 36 in the placebo group. The therapy also showed improvements in secondary endpoints. Bamlanivimab is authorized for emergency use in the U.S., with ongoing efforts to reduce infusion times and explore lower doses for broader treatment access.

Eli Lilly (NYSE: LLY) has successfully completed its acquisition of Prevail Therapeutics (NASDAQ: PRVL) for $22.50 per share, plus a contingent value right (CVR) potentially adding $4.00 per share based on regulatory approvals by December 31, 2024. This acquisition establishes a gene therapy program targeting neurodegenerative diseases. Approximately 79.8% of Prevail’s shares were tendered, and the deal will not alter Lilly's 2021 financial guidance. Prevail's stock will be delisted from NASDAQ following the merger.

Eli Lilly and Company (NYSE: LLY) announced that its monoclonal antibody, bamlanivimab (LY-CoV555), significantly reduced the risk of symptomatic COVID-19 in nursing home residents and staff during the Phase 3 BLAZE-2 trial. The trial included 965 participants, showing an 80% lower risk of symptomatic COVID-19 for those treated with bamlanivimab compared to placebo. The treatment was particularly effective among nursing home residents. No COVID-19 related deaths occurred in the bamlanivimab group, highlighting its potential in safeguarding vulnerable populations.

Loxo Oncology at Lilly and Merus N.V. announced a collaboration to develop CD3-engaging bispecific antibody therapies. Merus will lead discovery, with Lilly handling development and commercialization. Merus receives $40 million upfront, $20 million equity investment, and up to $1.6 billion in potential milestones for up to three products. This partnership enhances Loxo's biologics strategy. The transaction aligns with Lilly's financial guidance, with no change to 2021 non-GAAP earnings per share expected.

Eli Lilly and Company (NYSE: LLY) will announce its fourth-quarter and full-year 2020 financial results on January 29, 2021. A conference call with the investment community and media is scheduled for 9 a.m. Eastern time on the same day, providing further details on the company's financial performance. Investors can access a live webcast of the call on Lilly's website, with a replay available afterward.

Eli Lilly and Company (NYSE: LLY) has announced a $30 million investment in the Unseen Capital Health Fund LP, aimed at supporting underrepresented founders in healthcare. This investment aligns with Lilly's commitment to racial justice and aims to help address healthcare inequities faced by marginalized communities. The Fund targets up to 50 early-stage healthcare companies led by diverse founders. Lilly hopes to set a precedent for collaboration in supporting diverse healthcare entrepreneurs. The Fund is working towards a $100 million target for investment.