Call it a rite of spring. Every year about this time, FiercePharma takes a look at executive compensation in the industry, and we rank the highest-paid CEOs. If you're a regular reader, you'll notice that this year's list is longer than previous editions. And there's a reason for that: curiosity. Check out the report >>
Eli Lilly Chairman and CEO John Lechleiter is scheduled for surgery for a dilated aorta on Monday and will hand the CEO reins over to CFO Derica Rice as he recovers. If all goes well, he'll be back on the job later this summer, the company said.
Eli Lilly CEO John Lechleiter took a pay cut last year--sort of. His 2012 compensation declined by 15%, to $14.6 million. But as Dow Jones reports, the drop stems from a smaller increase in the value of his pension.
Big Pharma sees drug counterfeiting as a big problem as international criminals find new ways to get fake drugs, even counterfeit cancer meds, into the legitimate supply chain. Now more than two dozen drugmakers are chipping in dollars, euros and pounds to help the international crime fighter Interpol do a better job of tracking them down.
Eli Lilly CEO John Lechleiter isn't in the least bit satisfied with the legal reasoning behind Canadian court decisions stripping patent protection from some of the company's biggest products.
Eli Lilly ($LLY) is the latest drugmaker to beat a set of low expectations. Sales were down 7% for the year. Fourth-quarter net income dropped 4% to $827.2 million, or 85 cents per share, excluding items. The $5.96 billion in Q4 sales amounted to a 1% decline. But it all could have been worse.
AstraZeneca isn't the only pharma giant having problems with rheumatoid arthritis today. Eli Lilly threw in the towel on one of three Phase III studies of an experimental antibody for patients with RA after an interim analysis showed lack of efficacy.
AstraZeneca ($AZN) nabbed China's approval for its clot-fighter Brilinta, once considered a big fish for the U.K.-based drugmaker. The drug hasn't performed nearly as well as originally hoped, at least so far. Perhaps sales in China, where drug spending is growing faster than in Europe or the U.S., will help jump-start the product.
While AstraZeneca was winning an approval in China for its heart drug Brilinta yesterday, Eli Lilly chief John Lechleiter happened to be visiting regulators in the Asian powerhouse to make the case for revving up its regulatory review process.
Eli Lilly has thrown in the towel on one of its soured late-stage programs. Just weeks after conceding that its first big Phase III of the schizophrenia drug pomaglumetad methionil, also known as mGlu2/3 and once dubbed LY2140023, had failed, the pharma giant says it's opted to scuttle a second study and write it off as a sure loser. Another mid-stage trial also failed.