Standing 11th with a R&D expenditure of $2.76 bn EUR and 13th in over all sales, Eli Lily (NYSE:LLY) is pinning its hopes on prasurgel, an anti-clotting drug that outperformed Plavix in reducing heart attacks. However, the drug was also found to increase the number of bleeding incidents leading analysts questioning whether the drug will get FDA approval. Lilly did receive FDA approval for a new indication for Cymbalta as a maintenance drug for patients with major depressive disorder. With patents expiring soon and no blockbuster drug to compensate, the company could experience up to 50 percent of its revenue.
Pending approval:
Prasugrel - Acute coronary syndrome
Phase III:
Enzastaurin - Non-hodgkin's lymphoma
Arzoxifene - Osteoporosis & prevention of breast cancer
Inhaled insulin
[Source: FierceBiotech]
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» 2007 Edition of the European Commission's Report of R&D Spending from PharmaGazette
The 2007 edition of the European Commission's annual report of research and development spending places Pfizer Inc. at the top of the heap outspending all other industries.Pharmaceuticals and biotechnology became the top R&D spenders beating ou... [Read More]
Tracked on: December 12, 2007 1:39 PM | Permalink to Trackback