December 10, 2009

Lilly Stock Going Down

For those of you interested in the stock markets, one of the big stories out there today was that Lilly's stock dropped about 3 percent today--a sizable move for a fairly stable stock. Reportedly, Lilly CEO John Lechleiter gave a speech before analysts in New York and offered little hope for how the company will fare financially in 2011 and beyond as Zyprexa and, then, Cymbalta come off-patent.

What no one has picked up on in the financial press so far is that Lechleiter also isn't saying a thing about Lilly's experimental compound, LY2140023, which failed a major clinical trial earlier this year. The company does have an ongoing safety study of the compound, so they are pushing ahead, but it's likely Lilly's revenues will take a huge hit in 2011. Unless the company has some trick up its sleeve. And it usually does.

Posted by Philip Dawdy at December 10, 2009 12:54 PM
StumbleUpon Toolbar del.icio.us Digg it reddit
Comments

When even the CEO's at Lilly will whitewash the truth, then how can the general public trust any of their drugs.

From SSRI Stories:

http://www.ssristories.com/show.php?item=1779

Paragraph 18 reads: "Just seven months into his tenure at Lilly, his first wife, Marilyn, committed suicide. He later spoke candidly about her death and the fact that Lilly's blockbuster antidepressant, Prozac, couldn't help her."

http://www.indystar.com/apps/pbcs.dll/article?AID=/20070513/LOCAL/705130417/-1/LOCAL17

IndyStar.com Metro & State

May 13, 2007

Tobias will be back, say friends
Ex-Lilly CEO named in D.C. sex scandal issues a statement about his plans.

Randall Tobias said Saturday that he and his wife will spend most of their time in Indy.

By Ken Kusmer
Associated Press

In his 2003 book on leadership, Randall Tobias likened difficult or unpleasant issues to a moose in the room. It's better to address the issue openly and honestly, he wrote, than ignore the moose and risk negative consequences.

Randall Tobias said Saturday that he and his wife will spend most of their time in Indy.

Posted by: Rosie at December 10, 2009 01:52 PM

Here is another sneaky item pulled off by Lilly. They deserve to go down the tubes.

http://www.ssristories.com/show.php?item=2937

Peter R. Breggin, M.D. was the expert witness for the plaintiffs in the Joseph Wesbecker trial [while on Prozac, Wesbecker killed 8 people and seriously wounded 12 people at the Standard Gravure plant in Louisville, KY in 1989], As the expert witness, Dr. Breggin was allowed ‘discovery’, which meant that he was permitted to search through Eli Lilly’s data on their clinical trials of Prozac.

Paul Smith of Dallas, Texas was the attorney for the plaintiffs. He had agreed to “fix” the trial in Lilly’s favor before the trial began [pages 250 to 257 of “Medication Madness” by Peter R. Breggin, M.D.]

Page 252 of the book “Medication Madness” by Peter R. Breggin, M.D. reads: “Before I got on the stand, attorney Paul Smith had told me in a shouting match not to dare bring up one particular smoking gun. From my Freedom of Information Act inquiries to the FDA, I had found that initial drafts of the Prozac label had listed “depression” and “abnormal thoughts” as two of the three most commonly reported adverse reactions to the drug. In these drafts, the company in effect admitted that it own principal investigators – the scientists conducting the clinical trials- were reporting that their patients frequently became more depressed on Prozac. Combined with an increase in “abnormal thoughts” this indicated that the drug was making many people worse and even potentially dangerous. I then discovered that shortly before the label was made official, “abnormal thoughts” was dropped from the list of the top three adverse effects and replaced with the more innocuous “abnormal dreams.” Then, on the last day before the label was officially approved, an FDA official scratched out “depression” from its prominent place in the label. Depression as a serious adverse effect of Prozac went from being “frequent” to being nonexistent. The company, in combination with the FDA, had expurgated some of the most damning information from the label shortly before its publication. Attorney Paul Smith outright refused to let me testify about this.

.

Posted by: Rosie at December 10, 2009 01:59 PM

Well, Eli can always raise a bit of pin money by manufacturing and selling narcotics, I suppose. It has a certain amount of experience in that field, after all.

"Operation Midnight Climax"! That's about right for a bunch of wankers!

Matt

Posted by: Matthew Holford at December 10, 2009 06:01 PM

"Depression as a serious adverse effect of Prozac went from being “frequent” to being nonexistent."

Speaking of adverse effects disappearing from labels: The Cymbalta label dated 9/2006 has many adverse reactions listed that are not listed on newer labels and nothing has increased in frequency. For example: Under "Other Adverse Reactions Observed During the Premarketing and Postmarketing Clinical Trial Evaluation of Duloxetine - Cardiac Disorders"

9/2006: Frequent: palpitations; Infrequent: atrial fibrillation, bundle branch
block right, cardiac failure, cardiac failure congestive, coronary artery disease, myocardial
infarction, and tachycardia

11/2009: Frequent: palpitations; Infrequent: myocardial infarction and tachycardia.

"Completed Suicide" was changed from "Infrequent" to "Rare". This is BEFORE you get to the "Postmarketing spontaneous reporting" section, I don't see how the data could have changed.

There are many more sections with similar changes.

Posted by: Damaged at December 11, 2009 04:41 AM

Scary news!
Cymbalta for headache, back-pain, dog version for separation anxiety, and why not for gaining weight?
It's not easy to gain weight to some people.
Jesus! Now I fear they read it and take it seriously.
"Have tried all diets to gain weight? Cymbalta is the answer!"
I don't doubt!

Posted by: Ana at December 11, 2009 02:31 PM
Post a comment









Remember personal info?






pic1.jpg

Patient Blogs. Sites.
Doctor Blogs. Sites.
Activists. News.
Social Networking. Forums.
Science. Big Pharma. Ethics.
Current Affairs
Seattle Stuff
Smoking. Stuff.

Info
About Furious Seasons
Email
Other Articles
ZYPREXA Documents
Alt ZYPREXA Documents Source
Blakemore-Brown Transcript

 Subscribe in a reader

Search


Recent Entries
$99 Left
$114 To Go
Winter Fundraiser, $134 To Go, Final Day
Ruth Lilly, Eli Lilly Heiress, Prozac Beneficiary Dies At 94
Winter Fundraiser, Final Day, Less Than $200 To Go
UCLA Psychiatrist Criticizes DSM-5
Winter Fundraiser, Barely $200 To Go
Most Popular Posts Of 2009
Winter Fundraiser, Less Than $300 Left, Let's Wrap It Up
Senate Health Care Bill Contains $1.25 Billion Gift To Sen. Stabenow
Travel Day, Comment Approval May Be Intermittent
Winter Fundraiser, Close But Stalled
Senate Health Care Reform Bill Contains Controversial MOTHERS Act, Abortion Study
Adult ADHD And Sleep Problems
Vic Chesnutt Dead At 45, Possible Suicide
Recent Comments

Ana on Lilly Stock Going Down

Damaged on Lilly Stock Going Down

Matthew Holford on Lilly Stock Going Down

Rosie on Lilly Stock Going Down

Rosie on Lilly Stock Going Down

Archives
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
November 2005
October 2005
September 2005
Resources
Mental Health America
National Alliance on Mental Illness
Depression and Bipolar Support Alliance
National Institute of Mental Health
McMan Web
Powered by
Movable Type 3.2