With two Alzheimer’s drugs in the final stage of human testing and two more being developed behind them, Eli Lilly & Co. is committed to one of the riskiest bets in medicine to fill a potential $10 billion revenue gap .
Merck & Co., facing generic competition in August to its top-selling asthma drug Singulair, reported second-quarter profit that beat analyst estimates on higher sales of the diabetes medicines Januvia and Janumet.
Eli Lilly & Co. said costs for Barack Obama’s health-care law were 12 times higher than one analyst estimated. That result may be the first of such surprises from pharmaceutical companies this earnings season.
Ian Read , the new chief executive officer of Pfizer Inc. , plans to lower costs by closing labs and reducing research spending by as much as $3 billion as the company faces declining sales of its best-selling drug.
Health plans will pay for expanded use of Merck & Co.’s Gardasil vaccine after a U.S. panel recommended it be given to boys to reduce transmission of a virus that causes cervical cancer, insurance executives said.