Monday, March 21, 2011

Lilly's Lechleiter: large deals not productive

Lilly's CEO Lechleiter : "We still see no need for large-scale mergers and acquisition activity. We don't believe large deals in the industry have been more productive than developing our research capability."

The Indianapolis Business Journal wrote: Eli Lilly and Co. CEO John Lechleiter visited Japan last week—three days before the massive earthquake—to deliver his tried-and-true message: Drug companies need to reinvent invention, governments needs to support innovation, and Lilly will be just fine after it has sustained the damage of the next three years.

Note text in Pharma Times on March 21, 2011:

As anticipated, the US Food and Drug Administration has turned down Eli Lilly's novel imaging agent Amyvid over fears that experts may not interpret the brain scans in a consistent way.

Amyvid (florbetapir) is a molecular imaging tool under investigation for the detection of beta-amyloid plaque - the presence of which is associated with Alzheimer's disease - acquired by Lilly via its purchase of Avid Radiopharmaceuticals in December 2010.

A cure for Alzheimer's has not yet been developed, and so treatment strategies are very much focused on the control of symptoms, which can make a significant difference to patients. It is thought that detection of beta amyloid plaques in the brain will help speed up diagnosis, thereby providing a means for those with the condition to get quicker access to therapy.

See also
Lilly CEO: No need for megadeals, we have Japan


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