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The first round of Medicare drug price negotiations has come to an end – but we still don't know the final prices that the U.S. government and pharmaceutical companies have agreed on. They all maintain that Medicare drug price negotiations are a long-term threat to the pharmaceutical industry's drug innovation and profits, but the immediate dust has somewhat settled. That's based on executive commentary during the recent quarterly earnings calls of Bristol Myers Squibb and Johnson & Johnson , among other companies. Novartis CEO Vasant Narasimhan said on July 18 that the short-term impact from Medicare drug price negotiations "might be manageable on our first set of drugs." Executives at each of the drugmakers similarly emphasized their opposition to Medicare drug price negotiations on their respective earnings calls.

Persons: Joe Biden, Johnson, Joe Biden's, Christopher Boerner, Bristol Myers, Robert Michael, We've, Michael, Jennifer Taubert, Vasant Narasimhan, Narasimhan, Bristol Myers Squibb's Boerner, Boehringer Ingelheim, Annika Organizations: National Institutes of Health, Medicare, Bristol Myers Squibb, Johnson, Pfizer, J, Novartis, Merck, Novo Nordisk, AstraZeneca Locations: Bethesda , Maryland, U.S, annikakim.constantino@nbcuni.com

☆ Eli Lilly's Zepbound and Mounjaro now available in U.S. after shortages, FDA says
▼ + stars: | 2024-08-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City on Dec. 11, 2023. All doses of Eli Lilly's highly popular weight loss injection Zepbound and diabetes drug Mounjaro are now available in the U.S., according to an update on the U.S. Food and Drug Administration's drug shortage database on Friday. The FDA's update comes one day after Eli Lilly CEO David Ricks told Bloomberg that the shortages of Mounjaro and Zepbound would end "very soon." A spokesperson for Eli Lilly did not immediately respond to CNBC's request for comment on the FDA's update on Friday. Meanwhile, the FDA said some doses of Novo Nordisk's weight loss drug Wegovy have limited supply.

Persons: Eli Lilly’s, Eli Lilly's, Zepbound, Eli Lilly, David Ricks Organizations: U.S . Food, Novo Nordisk, Bloomberg, FDA Locations: New York City, U.S

☆ Eli Lilly's weight loss drug Zepbound cuts heart failure risks in late-stage study
▼ + stars: | 2024-08-01 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

An Eli Lilly & Co. Zepbound injection pen arranged in the Brooklyn borough of New York, US, on Thursday, March 28, 2024. Eli Lilly 's weight loss drug Zepbound showed benefits in patients with a common type of heart failure and obesity, according to late-stage trial data the company released Thursday. Eli Lilly said it plans to submit the results from the phase three trial to regulators in the U.S. and other agencies starting later this year. Zepbound also significantly improved heart failure symptoms and physical limitations, Eli Lilly said in a release. Eli Lilly will present the data at an upcoming medical meeting and submit it to a peer-reviewed journal.

Persons: Eli Lilly, Zepbound Organizations: Centers for Disease Control, Novo Nordisk, Drug Administration Locations: Brooklyn, New York, U.S

☆ Biogen beats expectations, hikes outlook as Alzheimer's drug Leqembi and other new products gain traction
▼ + stars: | 2024-08-01 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Biogen on Thursday reported second-quarter earnings and revenue that topped estimates and hiked its full-year guidance, as the company's cost cuts showed progress and sales of its breakthrough Alzheimer's drug, Leqembi, and other new products beat expectations. Leqembi, which Biogen shares with Eisai, became the second drug proven to slow the progression of Alzheimer's to win approval in the U.S. last summer. That's above the $31 million analysts had expected, according to estimates compiled by StreetAccount. Tecfidera, for example, booked $252.2 million in revenue in the second quarter, which is relatively flat from the year-earlier period. Analysts had expected the once-blockbuster drug to rake in $233.3 million in revenue for the quarter, according to StreetAccount.

Persons: Biogen, StreetAccount, Leqembi, Drug Administration greenlit Skyclarys, Biogen's Organizations: Eisai, LSEG, Reata Pharmaceuticals, Drug Administration, Sage Therapeutics Locations: U.S, Europe

☆ Moderna stock falls more than 10% as it slashes guidance on low EU sales, tough U.S. vaccine market
▼ + stars: | 2024-08-01 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

It's Moderna's second-ever commercially available product after its Covid vaccine, which has seen demand plunge as the world emerges from the pandemic and relies less on protective shots and treatments. He added that "we've been having quite intense discussions with governments across Europe" to get Covid vaccine supply from Moderna. He is referring to the European Union's massive renegotiated Covid vaccine supply contract with Pfizer and its German partner BioNTech . Its shares are up nearly 20% this year on increasing confidence around its pipeline and messenger RNA platform, which is the technology used in its Covid vaccine and RSV shot. Moderna is also developing a stand-alone flu shot, a personalized cancer vaccine with Merck and shots for latent viruses, among other products.

Persons: It's Moderna's, Stephane Bancel, we've, Bancel, BioNTech, Moderna, I'm Organizations: Moderna Inc, Moderna, Pfizer, GSK, LSEG, Wall, Research, Merck Locations: Cambridge , Massachusetts, Europe, U.S, Moderna, Ukraine

☆ Patients on Alzheimer's drug Leqembi see benefits over three years, Eisai study says
▼ + stars: | 2024-07-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The newly FDA approved Alzheimer's treatment Leqembi is prepared at Abington Neurological Associates in Abington, PA., on Tuesday, November 7, 2023. The breakthrough Alzheimer's drug Leqembi slowed disease progression in patients over three years, demonstrating the need for them to stay on the treatment long term, according to new data released Tuesday by Japanese drugmaker Eisai. The study results on Leqembi, which Eisai shares with Biogen , also found that a patient's Alzheimer's disease worsens after they stop treatment. The results are a first glimpse at what Alzheimer's patients' future could look like on therapies such as Leqembi, which is currently taken twice a month through an infusion. By 2050, the number of Alzheimer's patients is projected to rise to almost 13 million in the U.S.

Persons: Lynn Kramer, Leqembi, Eisai, Kramer Organizations: FDA, Abington Neurological Associates, Biogen, CNBC, Alzheimer's Association International Conference, Alzheimer's Association Locations: Abington, Abington , PA, U.S, Philadelphia

☆ Older GLP-1 drug from Novo Nordisk may slow Alzheimer's disease progression by protecting the brain, study says
▼ + stars: | 2024-07-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

George Frey | ReutersAn older, once-daily drug for diabetes and obesity from Novo Nordisk called liraglutide may slow the progression of Alzheimer's disease by protecting patients' brains, according to data from a mid-stage trial released on Tuesday. Novo Nordisk sells liraglutide as a diabetes and obesity drug under the brand names Victoza and Saxenda, respectively. Alzheimer's disease often causes the brain to shrink as the illness progresses because crucial nerve cells break down and stop working properly. By 2050, the number of Alzheimer's patients is projected to rise to almost 13 million in the U.S. The ongoing EVOKE is examining semaglutide, the active ingredient in Wegovy and Ozempic, in nearly 2,000 Alzheimer's patients.

Persons: George Frey, Eli Lilly, liraglutide, Brian B, Bettencourt, Heather Snyder, Leqembi, Snyder, Dr, Paul Edison, Edison, Bobby Pugh, Bessie Pugh, Karen Pulfer Focht Organizations: Novo Nordisk Pharmaceutical, Reuters, Novo Nordisk, Imperial College London, Alzheimer's Association International Conference, Toronto Star, Getty, Alzheimer's Association, U.S, CNBC, Alzheimer's, Novo Nordisk's, Ave Locations: Provo , Utah, Danish, Philadelphia, Biogen, Novo, Bartlett , Tennessee, U.S

☆ Merck beats earnings expectations, raises sales outlook on strong demand for top drugs like Keytruda
▼ + stars: | 2024-07-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Merck on Tuesday reported second-quarter revenue and adjusted earnings that topped Wall Street's expectations as it saw strong sales from its blockbuster cancer drug Keytruda as well as other treatments in its oncology and vaccines portfolios and a newly launched cardiovascular drug. The pharmaceutical giant also raised its full-year sales forecast to a range of $63.4 billion to $64.4 billion on increased demand for key products, particularly its oncology treatments. That's only slightly higher than the $63.1 billion to $64.3 billion guidance the company provided in April. Merck reported $16.11 billion in revenue for the quarter, up 7% from the same period a year ago. Some analysts expect that worldwide sales of Winrevair could reach $5 billion by 2030.

Persons: Keytruda, Merck Organizations: Merck, Harpoon Therapeutics, LSEG, Prometheus Biosciences Locations: Rahway , New Jersey, U.S

☆ Pfizer beats earnings estimates, hikes full-year outlook as drugmaker cuts costs
▼ + stars: | 2024-07-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Pfizer on Thursday reported second-quarter revenue and adjusted earnings that blew past expectations and raised its full-year outlook, benefiting from its broad cost-cutting program, better-than-expected sales of its Covid antiviral pill Paxlovid and strong non-Covid product sales. Pfizer now expects to book adjusted earnings of $2.45 to $2.65 per share for the fiscal year, up from its previous guidance of $2.15 to $2.35 per share. Pfizer also hiked its revenue outlook to a range of $59.5 billion to $62.5 billion, up from a previous revenue forecast of between $58.5 billion and $61.5 billion. 60 cents adjusted vs. 46 cents expected. Revenue: $13.28 billion vs. $12.96 billion expected.

Organizations: Pfizer, LSEG, Revenue Locations: U.S, Seagen

☆ European drug regulator rejects Alzheimer's treatment Leqembi from Biogen, Eisai
▼ + stars: | 2024-07-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

European drug regulators on Friday rejected the Alzheimer's treatment Leqembi from Biogen and Eisai , creating another hurdle for the companies as they scramble to boost uptake of the therapy in the U.S. But it almost always follows the drug regulator's recommendations. The European Medicines Agency's human medicines committee recommended against granting marketing authorization for Leqembi. Leqembi and Kisunla are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease. In 2021, the European Medicines Agency rejected Aduhelm.

Persons: Eisai, Leqembi, Eli Lilly, Kisunla, Aduhelm Organizations: U.S, European Commission, U.S . Food, Drug Administration, Medicines, European Medicines Agency, Alzheimer's Locations: Biogen, U.S, Japan, South Korea, China, Israel, Europe, Alzheimer's Europe

☆ Bristol Myers Squibb beats earnings estimates, raises outlook as drugmaker slashes costs
▼ + stars: | 2024-07-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

The Bristol Myers Squibb research and development center at Cambridge Crossing in Cambridge, Massachusetts, on Dec. 27, 2023. Bristol Myers Squibb on Friday reported second-quarter earnings and revenue that topped expectations and raised its full-year guidance as the drugmaker moves to slash costs. The results come as Bristol Myers moves to cut $1.5 billion in costs by 2025 and reinvest that money into key drug brands and research and development programs. Bristol Myers posted net income of $1.68 billion, or 83 cents per share, for the second quarter. Revenue from Bristol Myers' blood cancer drug Revlimid also topped analysts' estimates for the period despite facing competition from cheaper generics.

Persons: Bristol Myers, Revlimid, Joe Biden's Organizations: Bristol Myers Squibb, LSEG, Revenue Locations: Cambridge, Cambridge , Massachusetts, Bristol, Revlimid

☆ Viking Therapeutics stock jumps 30% after drugmaker moves weight loss injection to late-stage trial
▼ + stars: | 2024-07-25 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Shares of Viking Therapeutics jumped more than 30% on Thursday after the biotech company a day earlier announced plans to advance its experimental weight loss injection into a late-stage trial earlier than expected. Viking is one of several small and large drugmakers hoping to compete in the space against Novo Nordisk and Eli Lilly , whose weight loss and diabetes GLP-1s have skyrocketed in demand over the last two years. During the call, Lian added that Viking expects to test VK2735 as a monthly injection in a future study. Viking Therapeutics' drug promotes weight loss by targeting a GLP-1 and another hormone called GIP. That pill caused 3.3% weight loss when compared to a placebo in an early-stage trial.

Persons: Eli Lilly, Viking, Brian Lian, Lian, Justin Zelin, Zelin, Eli Lilly's Zepbound Organizations: Viking Therapeutics, San, Novo Nordisk, Food and Drug Administration, FDA, Novo Nordisk's Wegovy Locations: San Diego

☆ Pfizer's gene therapy for rare genetic bleeding disorder succeeds in late-stage trial
▼ + stars: | 2024-07-24 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Pfizer on Wednesday said its experimental gene therapy for a rare genetic blood-clotting disorder succeeded in a large late-stage trial, paving the way for a potential approval. Without enough of that protein, the blood cannot clot properly, increasing the risk of spontaneous bleeding and severe bleeding after surgery. Pfizer said its one-time treatment significantly cut the number of annual bleeding episodes in patients with moderately severe to severe hemophilia A after 15 months. If approved, Pfizer's therapy will compete with BioMarin Pharmaceutical 's one-time treatment Roctavian. BioMarin is reportedly considering whether to divest its hemophilia A therapy, which costs $2.9 million.

Persons: Andrew Leavitt, Pfizer Organizations: Pfizer, Sangamo Therapeutics, BioMarin Locations: U.S

☆ Lawmakers introduce bipartisan bill aiming to crack down on drug middlemen as scrutiny ramps up
▼ + stars: | 2024-07-23 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Bipartisan lawmakers introduced a new bill on Tuesday that aims to crack down on the business practices of drug supply chain middlemen who are widely accused of inflating prescription medication prices and harming U.S. patients and pharmacies. The legislation aims to ensure community pharmacies can provide care to patients enrolled in federal health-care programs while being reimbursed "fairly and transparently" by so-called pharmacy benefit managers, or PBMs. Those middlemen also create lists of medications, also known as formularies, that are covered by insurance and reimburse pharmacies for prescriptions. Auchincloss said those practices have allowed PBMs to trap $300 billion in revenue in the middle of the drug supply chain between manufacturers and patients. Legislation targeting PBMs advanced through House and Senate committees with bipartisan support last year, and one proposal overwhelmingly passed the House in December.

Persons: Jake Auchincloss, Diana Harshbarger, Auchincloss, Biden Organizations: Medicare, CVS, PBMs, House, Federal Trade Commission, CNBC

☆ Pfizer moves forward with once-daily version of weight loss pill after setbacks
▼ + stars: | 2024-07-11 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Pfizer on Thursday said it will move forward with a once-daily version of its weight loss pill, danuglipron, after it saw "encouraging" data in an ongoing early-stage trial. Pfizer is one of several drugmakers racing to win a slice of the market for a highly popular class of weight loss and diabetes drugs called GLP-1 agonists. At the time, the pharmaceutical giant said phase one trial data on the once-daily version would "inform a path forward." Pfizer's danuglipron is a GLP-1 that promotes weight loss in the same way as Novo Nordisk' s injection Wegovy and diabetes treatment Ozempic. But he said Pfizer was looking for potential licensing deals or earlier-stage weight loss drugs.

Persons: Albert Bourla, Pfizer's, Eli Lilly, Bourla, Mikael Dolsten, Dolsten Organizations: Pfizer, Novo Nordisk, U.S

☆ Federal Trade Commission to sue drug middlemen over prices of medications including insulin, source says
▼ + stars: | 2024-07-10 | by ( Annika Kim Constantino Mary Catherine Wellons | Annika Kim Constantino | Mary Catherine Wellons | ) www.cnbc.com time to read: +3 min

Joe Raedle | Getty ImagesAn Express Scripts spokesperson said the "prices of insulin and other medicines are set by their manufacturers, who have raised list prices repeatedly." They also create lists of medications — or formularies — that are covered by insurance and reimburse pharmacies for prescriptions. The investigation into insulin prices also examines drugmakers, but it is unclear whether they will be named in the upcoming lawsuits, Politico reported, citing people familiar with the matter. Eli Lilly , French drugmaker Sanofi and Danish pharmaceutical company Novo Nordisk control roughly 90% of the U.S. insulin market. Pharmacist Thomas Jensen looks over a prescription drug at the Rock Canyon Pharmacy in Provo, Utah, on May 9, 2019.

Persons: Lina Khan, Tom Williams, Joe Raedle, PBMs, Eli Lilly, Sanofi, Thomas Jensen, George Frey Organizations: Trade, Financial Services, General Government, CQ, Inc, Getty, Federal Trade Commission, CNBC, UnitedHealth, CVS, FTC, Politico, Novo Nordisk, Pharmacy Locations: Miami, U.S, Danish, Provo , Utah

Joe Raedle | Getty ImagesAn Express Scripts spokesperson said "the prices of insulin and other medicines are set by their manufacturers, who have raised list prices repeatedly." The FTC's investigation into insulin prices also examines drugmakers, but it is unclear whether they will be named in the upcoming lawsuits, Politico reported, citing sources. Eli Lilly , French drugmaker Sanofi and Danish pharmaceutical company Novo Nordisk control roughly 90% of the U.S. insulin market. They also create lists of medications – or formularies – that are covered by insurance and reimburse pharmacies for prescriptions. Pharmacist Thomas Jensen looks over a prescription drug at the Rock Canyon Pharmacy in Provo, Utah, on May 9, 2019.

Persons: Lina Khan, Tom Williams, Joe Raedle, Eli Lilly, Sanofi, Thomas Jensen, George Frey Organizations: Trade, Financial Services, General Government, CQ, Inc, Getty, Federal Trade Commission, CNBC, UnitedHealth, CVS, Politico, Novo Nordisk, Pharmacy Locations: Miami , Florida, Danish, U.S, Provo , Utah

☆ FDA approves Eli Lilly Alzheimer’s drug, expanding treatment options in the U.S.
▼ + stars: | 2024-07-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

A sign with the company logo sits outside of the headquarters campus of Eli Lilly and Company on March 17, 2024 in Indianapolis, Indiana. The Food and Drug Administration on Tuesday approved Eli Lilly 's Alzheimer's drug donanemab, expanding the limited treatment options for the mind-wasting disease in the U.S. The agency approved the treatment, which will be sold under the brand name Kisunla, for adults with early symptomatic Alzheimer's disease, according to the company. "Having multiple treatment options is the kind of advancement we've all been waiting for — all of us who have been touched, even blindsided, by this difficult and devastating disease." It's a long-awaited win for Eli Lilly after donanemab faced obstacles in its path to market.

Persons: Eli Lilly, Joanne Pike, donanemab Organizations: Company, The, Drug Administration, U.S, Alzheimer's Association, FDA Locations: Indianapolis , Indiana, U.S

☆ Pfizer struggles to claw back faith with Wall Street and its employees as it recovers from the Covid decline
▼ + stars: | 2024-06-28 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +19 min

But other current employees are dissatisfied with where the strategy shift has left them. In January 2023, Pfizer forecast a steep drop in annual revenue, to between $67 billion and $71 billion. Pfizer's 2023 revenue ultimately came in at $58.5 billion, including $11.22 billion from its Covid vaccine and $1.28 billion from Paxlovid. Faith in executive leadership also plunged among some workers, according to most of the current and former employees who spoke with CNBC. Some current workers said that hasn't appeared to change after the town hall on May 2.

Persons: Albert Bourla, Wall, they're, Bourla, I'm, drugmaker Seagen, Irfan Khan, hasn't, Pfizer, renegotiating, John Thys, Payal Sahni Becher, Becher, Kena, Mike McDermott, Bourla's Organizations: Corbis, Getty, Pfizer, Wall, CNBC, Los Angeles Times, Moderna, Centers for Disease Control, U.S ., GSK, Bristol Myers Squibb, Pfizer wasn't, . Biotech, Companies, Biotech, BioNtech, Reuters, Human, View Press, Global, APEC, Summit, Tech, Google Locations: U.S, Covid, Eagle Rock , California, Durham , North Carolina, Puurs, Belgium, New York City, Peapack , New Jersey, Kena

☆ Drug prices have risen almost 40% over the last decade, according to a new tracker
▼ + stars: | 2024-06-27 | by ( Justine Fisher | ) www.cnbc.com time to read: +2 min

The average American spends $16.26 out of pocket per prescription, according to the data. "Rising costs or rising prices are a big part of it, but it's really that with the combination of increased friction. On average, Americans pay 2 to 3 times more for prescription drugs than consumers in other developed countries, according to the White House. The Biden administration has taken several measures to lower out-of-pocket drug expenses. On Wednesday, the White House announced it would lower prices on 64 prescription drugs for some Medicare beneficiaries as a result of inflation penalties on drugmakers.

Persons: Tori Marsh, GoodRx, Marsh, Joe Biden, Biden, Scott Wagner, — CNBC's Annika Kim Constantino Organizations: House, White House Locations: U.S

☆ Walgreens slashes profit guidance, citing 'challenging' environment for consumers and pharmacies
▼ + stars: | 2024-06-27 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, in Manhattan, New York City, on Nov. 26, 2021. Walgreens on Thursday reported fiscal third-quarter earnings that fell short of expectations and slashed its full-year adjusted profit outlook, citing a "challenging" environment for pharmacies and U.S. consumers. Still, Walgreens topped revenue estimates for the quarter on strong performance in its health-care segment. The company reported a net income of $344 million, or 40 cents per share, for the quarter. The company has not offered that guidance since October, when it said it expected $141 billion to $145 billion in sales.

Persons: Tim Wentworth, we've, Wentworth Organizations: Walgreens, Walgreens Boots Alliance, CNBC, LSEG Locations: Manhattan , New York City

☆ Biden administration to lower costs for 64 drugs through inflation penalties on drugmakers
▼ + stars: | 2024-06-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

The Biden administration on Wednesday said it will impose inflation penalties on 64 prescription drugs for the third quarter of this year, lowering costs for certain older Americans enrolled in Medicare. President Joe Biden has made lowering U.S. drug prices a key pillar of his health-care agenda and reelection platform for 2024. It is separate from another provision under the law that allows Medicare to negotiate lower prescription drug prices with manufacturers. On average, Americans pay two to three times more than patients in other developed nations for prescription drugs, according to the Biden administration. More than 750,000 Medicare patients use the drugs each year, according to the release.

Persons: Joe Biden, Biden Organizations: National Institutes of Health, Medicare Locations: Bethesda , Maryland

☆ Novo Nordisk to build $4.1 billion North Carolina facility to boost output of Wegovy, Ozempic
▼ + stars: | 2024-06-24 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Novo Nordisk on Monday said it will spend $4.1 billion to build a new manufacturing plant in Clayton, North Carolina, in a bid to boost the supply of its blockbuster weight loss drug Wegovy, diabetes treatment Ozempic and other injectable therapies. The company said it plans to invest $6.8 billion in production this year, up from roughly $4 billion last year. Construction of the 1.4 million-square-foot facility has begun and is expected to be completed between 2027 and 2029, Novo Nordisk said. Twelve other production sites are located in Denmark, France, China, Japan, Algeria, Brazil, Iran and Russia, according to a Novo Nordisk spokesperson. Around 35,000 U.S. patients on average start Wegovy each week today, up from roughly 27,000 in May, a Novo Nordisk spokesperson said in a statement.

Persons: Doug Langa, Clayton —, Langa, Eli Lilly Organizations: Novo Nordisk, Danish, Novo Nordisk's, Drug Administration Locations: Clayton , North Carolina, U.S, Novo, North Carolina, Clayton, Durham , North Carolina, West Lebanon , New Hampshire, Denmark, France, China, Japan, Algeria, Brazil, Iran, Russia

☆ Eli Lilly expects FDA decision on weight loss drug Zepbound for sleep apnea as early as end of the year
▼ + stars: | 2024-06-21 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

Eli Lilly presented the new data from the trials at the American Diabetes Association's 84th Scientific Sessions in Orlando, Florida, on Friday. An estimated 80 million patients in the U.S. experience the disease, Eli Lilly said in a press release. Disease resolution for OSA is defined as a patient having fewer than five AHI events per hour, according to Eli Lilly. Eli Lilly on Friday reiterated that Zepbound met the main goal of the trial, which was reducing AHI events. Eli Lilly previously announced that the FDA granted Zepbound "fast track designation" for patients with moderate-to-severe OSA and obesity.

Persons: Eli Lilly, Zepbound, Patrik Jonsson, Jonsson, Leonard Glass, —, Eli Lilly's Organizations: Food and Drug Administration, Diabetes, CNBC, OSA, FDA Locations: Orlando , Florida, U.S

☆ How Eli Lilly is managing soaring demand for GLP-1s, according to outgoing CFO Anat Ashkenazi
▼ + stars: | 2024-06-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Skyrocketing demand for a class of weight loss and diabetes treatments has lifted Eli Lilly to new heights over the last year. But the drugmaker has much more work it wants to do with that hard-won success, outgoing Chief Financial Officer Anat Ashkenazi told CNBC. Ashkenazi took over as CFO at Eli Lilly in 2021 after roughly two decades with the pharmaceutical giant. Her tenure hasn't come without challenges: Eli Lilly and rival Novo Nordisk have both struggled to manufacture enough supply of their treatments to meet unprecedented demand, causing nationwide shortages of those drugs. Eli Lilly does not expect to match the pace of demand this year and maybe not even in 2025, Ashkenazi said at a conference in March.

Persons: Eli Lilly, Anat Ashkenazi, Eli, Zepbound, Ashkenazi, Eli Lilly's Organizations: CNBC, Novo Nordisk

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