Eli Lilly

Business in Russia

2023: Eli Lilly's Russian business moves to the company's distributor

The American pharmaceutical company Eli Lilly, specializing in the production of insulin, decided to leave the Russian market and transfer the business to its partner Switzerland , a registered manufacturer. Swixx BioPharma This became known at the end of March 2023.

Former employees of the Russian office of Eli Lilly said that preparations for the transfer of business began at the end of February 2023 with the change of top management in the company's representative office. Some of the employees of Lilly Pharma, together with top management, will move to a new structure, which will be created by Swixx Biopharma for the distribution of Eli Lilly drugs in Russia.

Preparations for the transfer of business began at the end of February 2023 with the change of top management in the company's representative office

It is assumed that Swixx Biopharma will distribute those drugs that Eli Lilly continued to supply to Russia after the announcement of the suspension of the export of its products to the Russian Federation and investments in clinical trials. The company promised to maintain the supply of Humalog insulin, the antidiabetic drug Trulicity and the cancer drugs Zenlistik, Tsiramza, Alimta and Gemzar.

After the start of the military special operation of the Russian Federation in Ukraine, Eli Lilly, among other pharmaceutical companies, suspended investments in Russia and the launch of new clinical trials. The company also announced that it would temporarily stop supplying "non-essential" drugs. As a result, the company refused to supply the drug for erectile dysfunction Cialis (tadalafil), which has several generics in Russia.

According to one of the newspaper's sources, the transfer of Eli Lilly Swixx Biopharma is an attempt to preserve most of the revenue in the commercial segment, which accounts for a significant share of the pharmaceutical company's sales in the Russian Federation. It is also an opportunity to return to the market when foreign policy conditions change, the source added.^[1]

History

2023

Point Biopharma Purchase

On October 3, 2023, the American pharmaceutical corporation Eli Lilly and Company announced the conclusion of an agreement to acquire the manufacturer of radiopharmaceuticals Point Biopharma Global. The transaction amount is $1.4 billion. Read more here.

Versanis purchase for $1.93 billion

On July 14, 2023, the American company Eli Lilly announced an agreement to acquire Versanis, a private biopharmaceutical firm. The transaction amount is approximately $1.93 billion. Read more here.

Buying Dice Therapeutics

On June 20, 2023, Eli Lilly announced a $2.4 billion deal to acquire Dice Therapeutics. With this takeover, the buyer expects to expand his portfolio of drugs for the treatment of immune-related diseases. Read more here.

2020: Purchase of gene therapy developer Prevail Therapeutics

In mid-December 2020, Eli Lilly joined the ranks of large pharmaceutical companies involved in gene therapy, paying $1 billion for Prevail Therapeutics, which develops two clinical programs. Read more here.

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