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Biotech / Medical : Eli Lilly -- Ignore unavailable to you. Want to Upgrade?


To: Bull-like who wrote (293)8/22/1998 10:53:00 PM
From: kas1  Respond to of 642
 
Received the new Lilly shareholder rights plan in the mail today--

Not sure if I understand it correctly, but it sounds like a mechanism to increase the cost of buying additional shares once someone has bought 15% of the company? I know it's meant to prevent hostile takeovers, but I'm just trying to understand its inner workings.

Thanks in advance for any elucidation.



To: Bull-like who wrote (293)8/24/1998 10:04:00 AM
From: NewsTrader  Respond to of 642
 
Percentage of total holdings information is not disclosed in these SEC insider filings.



To: Bull-like who wrote (293)8/26/1998 8:13:00 PM
From: Anthony Wong  Respond to of 642
 
Lilly's Gemzar Drug Wins FDA Approval for New Use (Update2)

Bloomberg News
August 26, 1998, 5:53 p.m. ET

Lilly's Gemzar Drug Wins FDA Approval for New Use (Update2)

(Adds analyst comment.)

Washington, Aug. 26 (Bloomberg) -- Eli Lilly & Co. won
clearance to market its already approved Gemzar cancer drug for a
new use in treating late stage, non-small-cell lung cancer,
according to the U.S. Food and Drug Administration.

Gemzar, also called gemcitabine, has been approved by the
FDA since 1996 for the treatment of pancreatic cancer. Today's
action clears the drug for first-line use in patients diagnosed
with advanced forms of the non-small-cell lung cancer and in
patients who have seen their lung cancer spread, said FDA
spokesman Brad Stone. The drug is given by injection in
combination with another widely used cancer drug called
cisplatin.

Wider clearance for the anti-cancer drug should help Lilly
to spur on already-strong sales for the drug.

''So far Gemzar has been a textbook example of how to launch
a cancer drug. You start with a very quick approval and
then as rapidly as possible you try to move onto the larger
indications,'' said Alex Zisson, an analyst with Hambrecht &
Quist. ''I think it has surprised a lot of people.''

Shares in Indianapolis, Indiana-based Lilly rose 2 3/4 to
close at 77 1/16.

Officials from Lilly confirmed that the FDA had approved the
new use for the drug and said the company plans to make an
announcement soon detailing the new use and providing full
prescribing information for Gemzar.

The drug had sales of some $175 million in 1997 and
accounted for about 2 percent of Lilly's drug sector sales last
year. Zisson said he expects the drug to have worldwide sales of
$500 million in 2000.

In a cancer market where many of the most widely used drugs
are generic, those sales would make Gemzar ''one of the top five
ever'' in the history of cancer drugs, he said.

Off-Label Indications

Gemzar is likely to already be used frequently by cancer
doctors to treat the late stage lung cancer because cancer drugs
are often approved for very narrow uses, then prescribed more
widely by doctors for a broader range of so-called off-label
indications.

Still, agency approval for the additional uses helps to
secure market share and increase the odds that a treatment will
be reimbursed by insurance companies.

The FDA approval is in line with the recommendations of an
independent panel of experts which reviewed the drug this spring
and agreed with data presented by Lilly showing patients who
received Gemzar with another drug survived slightly longer -- by
about a month and a half -- than did patients who only received
the traditional cancer treatment.

While the addition to life expectancy is small, it is
significant because past treatments of advanced lung cancer have
generally been aimed only at being palliative, that is, to better
the quality of life and ease pain for terminally ill patients
while they are dying.

A different study presented at the panel hearing showed
Gemzar to be very potent taken by itself, and to trigger fewer
side-effects and milder forms of side-effects such as nausea,
vomiting and hair loss than a standard combination of two other
drugs.

Less Toxicity

''I am not aware of any active single agent. . . that has
less toxicity than gemcitabine,'' said Lilly researcher Larry
Einhorn, who summarized the studies Lilly and others have done of
the drug at the advisory panel.

Low toxicity could make the drug an important option for
weaker or older patients, who have very advanced lung cancers but
are not strong enough to cope with the side effects of other
therapies.

Patients in trials have had trouble adjusting to the initial
dosages of the drug and sometimes required hospitalization. The
drug also boosted the frequency of neurological problems when it
was taken in combination with other cancer drugs.

With more than 178,000 new cases in the U.S. last year, lung
cancer is still the leading cause of cancer deaths among men and
women, according to the American Cancer Society. It leads to more
deaths than the next three causes combined.

Gemzar works by blocking the process of DNA replication,
which in tumors has gone awry. By mimicking a natural building
block involved in replication, the drug essentially gums up the
process and kills cells which are multiplying. That makes it an
effective cancer killer because cancer cells divide more rapidly
than normal human cells.

--Kristin Reed in Washington (202) 624-1820 /mfr



To: Bull-like who wrote (293)8/26/1998 8:16:00 PM
From: Anthony Wong  Read Replies (1) | Respond to of 642
 
Hoechst, Lilly, Rhone May Benefit After Cardiology Conference

Bloomberg News
August 26, 1998, 10:06 a.m. ET

Hoechst, Lilly, Rhone May Benefit After Cardiology Conference

Vienna, Aug. 26 (Bloomberg) -- Hoechst AG, Eli Lilly & Co.,
Rhone-Poulenc SA and Merck KGaA are among the drugmakers that
did most to boost their products' reputations at this week's
cardiology conference in Vienna, after publishing encouraging
studies that could lift sales of new and old drugs.

While makers of drugs and medical products prepared to
leave the 20th European Society of Cardiology conference, some
such as Sanofi SA knew lackluster results from clinical trials
won't have made the 14,000 or so cardiologists present more
likely to demand the company's products. UCB SA drugs were
studied in two trials, one of which was positive, the other
showing limited benefits.

Doctors say such conferences are critical in helping them
evaluate treatments. With the changing economics of medical
care, they increasingly find their choices are limited, with
more purchasing decisions made by medical-benefit organizations
or hospital administrations.

''The trend at this conference seems to be fewer physicians
are coming to the displays because central administrations are
buying the hardware,'' lamented Per Sevedenhag, marketing
manager for Siemens AG, the German technology giant which
includes among its products sophisticated devices to measure
heart performance.

Drugmakers offer free gifts and prizes to lure doctors to
their displays in Vienna's giant convention center. At some,
doctors who take a quiz about the host company's drug can win a
carrying case -- even if their answers are wrong. At other
stands, where companies are giving away tape recorders or desk
supplies, crowds assemble like the hordes of shoppers who
beseige a department store on sale day.

Good Results Mean Sales

Still, for drugmakers competing in the $35 billion-a-year
global market for cardiovascular drugs, positive results from
clinical trials are still the best guarantee of sales. Drug
companies typically follow a favorable clinical study with
extensive press courtship. Disappointing trial results mean no
media blitz.

A 2,600-patient study of Merck KgaA's bisoprolol, a so-
called beta blocker, probably was the conference's biggest
surprise, doctors said. The study was the first to show that
beta blockers -- one of the oldest and largest classes of heart
drugs -- actually cut mortality rates among acute heart-failure
patients.

Beta blockers, which are mostly generic -- not protected by
any patent -- and made by dozens of drug companies, are now used
to lower blood pressure over long periods. Previously, such
drugs were rarely used in patients with acute coronary
conditions as they were thought to pose a risk of slowing the
heart down and killing the patient.

''This was a smashing study in my view,'' said Freek
Verheujt, professor of cardiology at the University of Nijmegen
in the Netherlands and an organizer of the conference. ''Beta
blockers in heart failure was always absolutely contra-indicated
(against medical practice) for heart failure, but this study was
convincing.''

Studies on Anticoagulants

Anticoagulants -- both new and old -- were also a hot
topic, and while products made by France's Rhone-Poulenc and
Hoechst of Germany got a boost from studies published at the
conference, one from French drugmaker Sanofi didn't.
Anticoagulants, which include products ranging from common
aspirin to newer ''low-molecular-weight'' heparins, are widely
used to thin the blood after heart attacks. Two separate studies
suggested not all low-molecular-weight produce equally
beneficial effects, though.

One large study this week showed that Rhone-Poulenc's
Lovenox, or Clexane, a low-molecular-weight heparin, was
superior to common heparin, a drug almost 100 years old. A
contrasting study showed that Sanofi's Fraxiparin, also a low-
molecular-weight heparin, performed little better than common
heparin.

''All low-molecular-weight heparins are not equal,'' said
Michel E. Bertrand, professor of cardiology at the University of
Lille, France, and an organizer of the conference. ''Fraxiparin
didn't show any effect in unstable angina. Only enoxaparin
(Lovenox) has been shown to be better than heparin.''

Heart-Attack Risk Cut

Doctors said it's likely that low-molecular-weight heparins
will continue to gain market share in a market now worth $1.6
billion a year, since they are easier to use, although more
expensive.

Hoechst's new anticoagulant Refludan also created a stir. A
10,141-patient study found the drug cut the risk of heart
attacks by nearly a quarter in angina patients.

Ulrich M. Grau, a Hoechst senior vice president, said the
company will use the study as the basis to apply for the drug to
be approved as a treatment for unstable angina. It's now
approved for treating complications in heparin use, a
comparatively small market.

''We believe that with the outcome of this study, sales
could be significant,'' said Grau.

Warning About Stents

Some cardiologists said they were alarmed by the increasing
use of stents -- tubular devices installed in some 500,000
patients a year to prop their arteries open. Although they can
save lives, stents, which are made by Johnson & Johnson, Guidant
Corp., Boston Scientific Corp. and others, lose effectiveness in
about a third of patients over periods of months.

''We must stop this stento-mania,'' said Karl R. Karsch, a
professor of cardiology at the University of Tuebingen, Germany.
He said at his medical center, only 3 percent of angina patients
are stented. The University of Lille's Bertrand said 86 percent
of patients at his center are stented.

The use of stents is likely to be boosted by a study of Eli
Lilly & Co.'s drug abciximab, said Bertrand. The six-month study
showed that the use of the drug with stents halved the risk of
death or heart attack from the level that can be expected when
using just stents.

Other companies, including Merck & Co. and Schering-Plough
Corp., also make newly-approved drugs to treat the reclogging of
stented arteries, called restenosis, but no long-term studies
have proven their effectiveness, Bertrand said.

''Stenting plus abciximab is certainly the best combination
in my opinion,'' said Bertrand.

--Dane Hamilton in Vienna, through the London newsroom (44-171)