Peter Loftus

Drugmaker Eli Lilly said it will spend $4.5 billion to build a new manufacturing research hub in Indiana, where it will develop new methods of producing complicated types of medicines. The new investment comes as Lilly and rival Novo Nordisk are ramping up manufacturing capacity due to skyrocketing demand for weight-loss drugs including Zepbound and Wegovy. The Lilly project announced Wednesday will allow it to develop new manufacturing techniques for experimental anti-obesity drugs and other medicines in its pipeline.

The removal of Zepbound and Mounjaro from the regulator’s shortage list could lead to restrictions on pharmacies making custom-made versions.

Johnson & Johnson reported higher-than-expected quarterly sales and earnings, fueled by gains in its prescription-drug and medical-device businesses. J&J’s pharmaceutical business posted a 4.9% gain, helped by higher sales of cancer drug Darzalex and the depression treatment Spravato. The company is counting on growth from these and other drugs to offset an expected decline in sales from the loss of patent exclusivity for one of its biggest sellers, Stelara, a treatment for psoriasis and gut disorders.

Spravato, a depression treatment derived from club drug ketamine, was looking like a dud. Its recent success now shows a path forward for psychedelic-based medicines.

Eli Lilly shares slid in premarket trading after the drugmaker reported disappointing quarterly results, with sales of its popular diabetes and anti-obesity drugs lower than expected. Lilly said inventory decreases in the wholesaler channel hurt sales of its diabetes drug Mounjaro and anti-obesity

Shares of Abbott Laboratories and Reckitt Benckiser rose Friday after the companies won a victory in litigation over the safety of some of their baby-formula products. Abbott shares rose 4% in early New York trading, while Reckitt’s shares were up 8% in London.A jury in Missouri state court on Th

Moderna shares jumped after the biotechnology company reported higher-than-expected sales of its Covid-19 vaccine and backed its full-year sales forecast. Moderna's stock rose 7% in premarket trading. In the week following approval, Moderna said it shipped twice as many doses as it did a year earlier.

The lawsuit is the second by a large drugmaker in recent days challenging how it provides required discounts to certain hospitals.

Eli Lilly, Novo Nordisk reps get facetime with employers in hopes they’ll cover their drugs

Eli Lilly and Novo Nordisk representatives get facetime with companies in hopes they will cover their weight-loss drugs.