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LLY also admits it is a market priced too high.
Lilly Will Roll Dice On Deals for Less-Proven Drugs -- Market Talk
DOW JONES & COMPANY, INC. 10:27 AM ET 1/9/2018
Symbol Last Price Change
LLY 86.18up +0.05 (+0.06%)
QUOTES AS OF 10:41:29 AM ET 01/09/2018
10:27 ET - Eli Lilly(LLY) plans to make some riskier bets on deals for experimental drugs developed by other companies. " Lilly will be doing more deals acquiring more molecules at earlier stages of development," Daniel Skovronsky, a senior vice president who will take over Lilly's research unit in June, tells the WSJ on the sidelines of the JP Morgan healthcare conference this week. It's a shift from its past focus on bringing in drugs that have already advanced through several clinical studies--deals that can be less risky but also more expensive. Buying an early-stage drug is a risky bet because many fail in subsequent testing, but Lilly "sees more opportunities in the early stage" and can out- compete rival big pharma companies that have cut their in-house R&D programs, he says. ([e-mail]; @Loftus)