Lilly Ready For More Risk When It Comes To Early Deals
Chief Scientific Officer Dan Skovronsky has remit over business development at Eli Lilly, and he said the company is looking to do more deals, including higher-risk early stage molecules and new modalities, during an investor briefing in New York Dec. 19. The company also provided 2019 financial forecasts.
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GlaxoSmithKline will update investors on strategy after completing its Tesaro acquisition. Lilly may have guidance updates following its Loxo acquisition and Lartruvo setback news. Sanofi investors await a pair of new approvals, and AstraZeneca faces investors for the first time since the departure of Chief Medical Officer Sean Bohen and establishing a new organizational structure.
SVP/CSO Daniel Skovronsky says the company has invested in technology and biotech-like teams to speed up the process of translating targets identified in house into human data for novel drugs.
Biopharma investor sentiment plunged at the end 2018, but soared as the J.P. Morgan Healthcare Conference kicked off with another big company acquisition and as industry participants indicated their optimism about financing and deal-making opportunities in 2019.