During Monday’s Morning trade, Shares of Eli Lilly and Company (NYSE:LLY), lost -8.29% to $79.06.
Eli Lilly and Company, and the ACCELERATE study’s academic leadership have accepted the recommendation of the independent data monitoring committee to terminate the Phase 3 trial of the investigational medicine evacetrapib, due to insufficient efficacy. Lilly will discontinue development of evacetrapib for the treatment of high-risk atherosclerotic cardiovascular disease and will now conclude other studies in the program.
The independent data monitoring committee based its recommendation on data from periodic data reviews, which suggested there was a low probability the study would achieve its primary endpoint based on results to date. The study is not being stopped for safety findings. After further analysis, results of the study will be presented in scientific forums in the future.
The decision to discontinue development of evacetrapib is predictable to result in a fourth-quarter charge to research and development expense of up to $90 million (pre-tax), or about $0.05 per share (after-tax). The company will incorporate this estimated charge into its updated 2015 guidance that will be offered as part of its third quarter 2015 earnings press release on Thursday, Oct. 22, 2015.
Eli Lilly and Company discovers, develops, manufactures, and sells pharmaceutical products worldwide. It operates through two segments, Human Pharmaceutical Products and Animal Health Products. The company offers endocrinology products to treat diabetes; osteoporosis in postmenopausal women and men; human growth hormone deficiency and pediatric growth conditions; and testosterone deficiency.
Shares of Ford Motor Co. (NYSE:F), declined -0.33% to $14.92, during its current trading session, despite the automaker plans to invest $1.8 billion in a new generation of smart cars out of China.
Ford has been seeing a decline in sales, industry wide weakness and growing competition in the country, the Wall Street Journal reports.
The Dearborn, MI-based Mustang producer will invest 11.4 billion yuan over the next five years in order to research how to comprise better smartphone connectivity, autonomous driving, and other smart car features, the Journal added.
“We see China as a very big growth market. It’s a great opportunity to grow not only our core business of selling cars and trucks but also provide services to people that may not want a car but still want to be mobile,” Ford CEO Mark Fields told the Journal.
Ford Motor Company manufactures and distributes automobiles worldwide. The company operates through two sectors, Automotive and Financial Services. The Automotive sector develops, manufactures, distributes, and services vehicles, parts, and accessories. It offers vehicles primarily under the Ford and Lincoln brand names.
Finally, Hewlett-Packard Company (NYSE:HPQ), lost -1.30%, and is now trading at $28.92.
Hewlett-Packard Company, declared that the Securities and Exchange Commission has declared effective the Registration Statement on Form 10 (the “Form 10”) filed by Hewlett Packard Enterprise Company (“Hewlett Packard Enterprise”) in connection with the separation of HP into two companies: Hewlett Packard Enterprise and HP Inc. The effectiveness of the Form 10 is one of the final important steps towards concluding the separation, which is predictable to occur on November 1, 2015.
The separation remains subject to certain conditions described in the Form 10.
Hewlett-Packard Company, together with its auxiliaries, provides products, technologies, software, solutions, and services to individual consumers and small- and medium-sized businesses (SMBs), in addition to the government, health, and education sectors worldwide.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
