Eli Lilly & Co. develops and commercializes medicines across cardiometabolic disease, oncology, immunology, neuroscience and genetic medicine. Company news commonly covers product and pipeline developments for medicines such as Mounjaro, Zepbound, Foundayo, Omvoh, Verzenio, Jaypirca and Taltz, including clinical data, regulatory approvals and treatment-indication updates.
Lilly updates also include operating results, financial guidance, dividends, business development agreements and manufacturing expansion. Recent company communications highlight investment in active pharmaceutical ingredient capacity and genetic medicine production, alongside recurring disclosures about demand for diabetes, obesity, immune-disease and cancer therapies.
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.
Eli Lilly and Company (NYSE: LLY) has elected Gabrielle Sulzberger to its board of directors, effective January 25, 2021. Sulzberger, a seasoned financial expert, will serve on both the Audit Committee and the Ethics and Compliance Committee. She brings over 30 years of experience in financial services and private equity, including positions at Two Sigma Impact and Rustic Canyon. Her election aims to enhance the board's diversity and expertise. Sulzberger will stand for election by shareholders at the annual meeting in May 2021.
The FDA has accepted a supplemental New Drug Application (sNDA) for Jardiance (empagliflozin) from Eli Lilly and Boehringer Ingelheim. This sNDA targets reducing cardiovascular death and hospitalization for heart failure in adults, especially those with chronic heart failure with reduced ejection fraction. The sNDA is based on the EMPEROR-Reduced trial results, showing Jardiance reduced the risk of cardiovascular death or hospitalization by 25%. The FDA previously granted Fast Track designation for its use in heart failure treatment. Further results are awaited from the EMPEROR-Preserved trial.
Eli Lilly's investigational antibody, donanemab, demonstrated a 32% reduction in cognitive decline in early symptomatic Alzheimer's patients compared to placebo in the Phase 2 TRAILBLAZER-ALZ study. This study, involving 272 patients, met its primary endpoint in the Integrated Alzheimer's Disease Rating Scale (iADRS). Notable safety observations included 27% incidence of amyloid-related imaging abnormalities (ARIA-E). The study's full results will be submitted for publication, with plans for further discussions with global regulators regarding next steps for donanemab.
Eli Lilly and Company (NYSE: LLY) will participate in the 39th Annual J.P. Morgan Healthcare Conference on January 12, 2021. David A. Ricks, the company's CEO, is set to engage in a virtual fireside chat at 8:20 a.m. Eastern time. A live audio webcast will be accessible through the "Webcasts & Presentations" section of Lilly's Investor website. The presentation will be available for replay for about 90 days. Lilly aims to innovate healthcare by discovering medicines that improve lives globally.