Eli Lilly and Company

$LLY

NYSEHealthcare

147 stories mentioning Eli Lilly and CompanyUpdated 4h ago

Eli Lilly trades amid a proposed permanent CMS Medicare drug price negotiation framework; an executive sold $2.88 million in shares per an SEC filing.

US Markets101d ago

Eli Lilly to Strengthen Cancer Treatment Portfolio With $7 Billion Deal for Kelonia

Eli Lilly (LLY) has agreed to acquire clinical-stage biotechnology firm Kelonia Therapeutics for up to $7 billion, as the drugmaker looks to bolster its cancer treatment portfolio.The deal consideration consists of an upfront cash payment of $3.25 billion and subsequent payments upon the achievement of certain clinical, regulatory and commercial milestones, the companies said Monday.The acquisition will give Lilly access to KLN-1010, Kelonia's lead investigational candidate for the treatment of multiple myeloma, a blood cancer of plasma cells in the bone marrow. The product is being evaluated in a phase 1 study."The early clinical data for KLN-1010 are highly encouraging, both as a potential step forward for patients with multiple myeloma and as proof of concept for Kelonia's platform," said Jacob Van Naarden, president of Lilly Oncology. "We look forward to working together with the Kelonia team to rapidly advance KLN-1010 to address patient need."The deal, which requires approval from regulators, is expected to complete in the second half of this year."We have demonstrated the ability to achieve deep multiple myeloma remissions with significantly reduced complexity and cost relative to ex-vivo (chimeric antigen receptor) T-cell approaches," Kelonia Chief Executive Kevin Friedman said. "In combination with Lilly's strengths, our in-vivo (gene placement system) platform is positioned to broaden the reach of cell therapy beyond the current CAR-T landscape in hematologic malignancies."Lilly shares edged 0.1% lower in Monday afternoon trade, taking its year-to-date losses to roughly 14%.At the end of last month, Lilly announced an up to $7.8 billion deal to purchase UK-based Centessa Pharmaceuticals to strengthen its neuroscience pipeline and expand into sleep medicine. Earlier in the year, the company agreed to buy Orna Therapeutics, a biotechnology company focused on engineering immune cells, for up to $2.4 billion.Lilly is scheduled to report first-quarter financial results April 30.Price: $927.86, Change: $+0.83, Percent Change: +0.09%

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Wire101d ago

Israel-Lebanon Ceasefire, S&P 500's Record Close Drive US Equity Futures Higher Pre-Bell

US equity futures were higher pre-bell Friday as a 10-day ceasefire between Israel and Lebanon went into effect while the S&P 500 and Nasdaq Composite posted new all-time highs on Thursday.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.3% higher.The halt of Israel's attacks on Lebanon has been an important condition for the resumption of US-Iran talks, which President Donald Trump said could occur "probably, maybe, next weekend" in remarks made outside the White House on Thursday. Trump also said that a deal with Iran could be finalized ideally before the US-Iran ceasefire ends on Tuesday, but he was willing to extend if necessary.The S&P 500 gained 0.3% to close at 7,041.28, while the Nasdaq advanced 0.4% to end at 24,102.70.Traders took note of results from two major banks, with Truist Financial (TFC) reporting higher Q1 earnings and revenue and Fifth Third Bancorp (FITB) posting lower Q1 earnings amid higher revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.2% at $95.17 per barrel and US West Texas Intermediate crude 4.9% lower at $90.08 per barrel.Federal Reserve San Francisco President Mary Daly, Richmond President Thomas Barkin, and Governor Christopher Waller are scheduled to speak on Friday.In other world markets, Japan's Nikkei closed 1.8% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, Netflix (NFLX) stock was down 9.5% after the company issued Q2 guidance late Thursday that fell short of analysts' consensus. The streaming company also said that its chairman and co-founder, Reed Hastings, plans to step down when his term ends in June. Exelon (EXC) shares were 1.6% lower after the company's stock rating was downgraded by Mizuho, Barclays and BMO Capital.On the winning side, Eli Lilly (LLY) stock was up 1.9% after the company said its experimental drug Foundayo met its primary endpoint of a phase 3 clinical trial by showing a lower risk of severe cardiovascular incidents compared with insulin glargine in adults with type 2 diabetes. Oracle (ORCL) shares were up 2.6% after the company said it plans to expand its multi-cloud networking capabilities to provide connectivity between Oracle Cloud Infrastructure and Amazon (AMZN) Web Services.

Dow JonesNasdaq CompositeS&P 500$AMZN$EXC$FITB$LLY$NFLX$ORCL$TFC

Sectors107d ago

Sector Update: Health Care Stocks Higher Late Afternoon

Health care stocks rose late Tuesday afternoon, with the NYSE Health Care Index up 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.6%.The iShares Biotechnology ETF (IBB) climbed 2.1%.In corporate news, Johnson & Johnson (JNJ) lifted its full-year outlook on Tuesday as the healthcare products conglomerate's Q1 results surpassed Wall Street's expectations. Its shares rose 1.1%.Eli Lilly (LLY) has agreed to buy CrossBridge Bio for up to $300 million in cash, the pre-clinical biotechnology firm said Tuesday. Lilly shares were down 0.6%.Novo Nordisk (NVO) has received the Medicines and Healthcare products Regulatory Agency approval for a new single-dose 7.2 mg of Wegovy to treat adults with obesity, the UK regulator said. Novo shares climbed 3.5%.Biogen (BIIB) shares rose 1.5% after Piper Sandler upgraded the stock to overweight from neutral and boosted its price target to $214 from $177.Avanos Medical (AVNS) shares surged 69% after the company said Tuesday it agreed to be acquired by American Industrial Partners affiliates in an all-cash deal valuing the company at roughly $1.27 billion.

$AVNS$BIIB$JNJ$LLY$NVO

Sectors107d ago

Sector Update: Health Care

Health care stocks rose late Tuesday afternoon, with the NYSE Health Care Index up 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.6%.The iShares Biotechnology ETF (IBB) climbed 2.1%.In corporate news, Eli Lilly (LLY) has agreed to buy CrossBridge Bio for up to $300 million in cash, the pre-clinical biotechnology firm said Tuesday. Lilly shares were down 0.6%.

$LLY

Wire107d ago

Eli Lilly to Acquire CrossBridge Bio

Eli Lilly (LLY) has agreed to buy CrossBridge Bio for up to $300 million in cash, the pre-clinical biotechnology firm said Tuesday.The deal includes an upfront payment and a subsequent payout upon achieving certain development milestone, CrossBridge said.The firm, which is developing a new dual-payload antibody-drug conjugates for cancer treatments, expects an investigational new drug application for its lead candidate, CBB-120, in 2026.Price: $926.84, Change: $-2.71, Percent Change: -0.29%

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Sectors112d ago

Sector Update: Health Care Stocks Mixed Late Afternoon

Health care stocks were mixed late Thursday afternoon, with the NYSE Health Care Index adding 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) easing 0.1%.The iShares Biotechnology ETF (IBB) increased 0.2%.In corporate news, STAAR Surgical (STAA) needs to show that the rebound in China is sustainable after the firm reported much higher preliminary Q1 net sales than consensus, Wedbush said in a note. Wedbush raised the company's price target to $26 from $21, while keeping its neutral rating. STAAR shares jumped 21%.Amazon.com's (AMZN) Amazon Pharmacy said Thursday it is offering Eli Lilly's (LLY) obesity pill Foundayo. Additionally, WW International (WW) said Thursday it is now offering access to Foundayo for weight loss through its Med+ program and affiliated medical groups. Lilly shares rose 0.4%.BridgeBio Pharma (BBIO) is transitioning from a single-asset transthyretin story into a diversified rare disease company, with growth poised to accelerate beyond its ATTR franchise, RBC Capital said in a note. RBC started coverage of the company with an outperform rating and a price target of $100. BridgeBio shares rose 2.7%.Vanda Pharmaceuticals (VNDA) said Thursday it is calling on the US Food and Drug Administration to withdraw a proposal in the regulator's fiscal 2027 Congressional Budget Justification that would extend drug review timelines. Vanda shares were down 0.3%.

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