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MarketScreener Homepage  >  Equities  >  Nyse  >  Eli Lilly and Company    LLY

ELI LILLY AND COMPANY

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Eli Lilly and Company : - Lilly and Ypsomed collaborate to advance an automated insulin delivery system for people with diabetes

11/20/2020 | 08:49am EST

BURGDORF - Eli Lilly and Company (NYSE: LLY) and Ypsomed (SWX: YPSN) announced today a non-exclusive, global agreement to advance an automated insulin delivery system as part of Lilly's connected diabetes solutions.

Under the terms of the agreement, Lilly will commercialize the system, which is currently in development and will include an insulin pump developed and manufactured by Ypsomed.

Ypsomed's insulin pump has been marketed in Europe since 2016. Available in 21 countries as the mylife YpsoPump, this pump stands out for its small size and its unique, icon-based touch screen. Lilly will commercialize a version of this insulin pump, along with continuous glucose monitoring (CGM) and automated insulin delivery technology, in the United States and Europe. This pump will use pre-filled insulin cartridges for Lilly's rapid-acting insulins.

'Lilly is committed to delivering solutions that meet the needs of the diabetes community and providing more options to help them manage their diabetes,' said Marie Schiller, vice president of product development for Connected Care and Insulins at Lilly. 'People who use insulin, along with their healthcare providers, need simple, effective tools that lead to improved outcomes, and Ypsomed is developing an automated insulin delivery system with several exciting features that can help meet that need.'

Ypsomed plans to submit a version of the mylife YpsoPump for clearance to the U.S. Food and Drug Administration for use in automated insulin delivery in 2022. If cleared, Lilly will have exclusive rights to commercialize the pump in the U.S.

'We are thrilled to partner with Lilly to bring our insulin pump to the United States and deliver improved outcomes to people with diabetes through connected solutions,' said Simon Michel, CEO of Ypsomed. 'Managing diabetes with insulin is already complex enough, so we developed this insulin pump to be easy to learn and easy to operate. Our goal is to support people living with diabetes through app-centric insulin management, CGM data and advanced algorithms. Partnering with Lilly to bring a holistic platform to market is an important next step in this journey that started in 1984 by introducing the world's first micro insulin pump to the market.'

About Diabetes

Approximately 34 million Americans1 (just over 1 in 10) and an estimated 463 million adults worldwide2 have diabetes. Type 2 diabetes is the most common type internationally, accounting for an estimated 90 to 95 percent of all diabetes cases in the United States alone1. Diabetes is a chronic disease that occurs when the body does not properly produce or use the hormone insulin.

About Lilly Diabetes

Lilly has been a global leader in diabetes care since 1923, when we introduced the world's first commercial insulin. Today we are building upon this heritage by working to meet the diverse needs of people with diabetes and those who care for them. Through research, collaboration and quality manufacturing we strive to make life better for people affected by diabetes and related conditions. We work to deliver breakthrough outcomes through innovative solutions-from medicines and technologies to support programs and more.

About Eli Lilly and Company

Lilly is a global health care leader that unites caring with discovery to create medicines that make life better for people around the world. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism.

About the Ypsomed Group

The Ypsomed Group is a leading developer and manufacturer of injection and infusion systems for self-medication and a renowned diabetes specialist with over 30 years' experience. As a leader in innovation and technology, Ypsomed is the preferred partner for pharmaceutical and biotech companies for the supply of pens, autoinjectors and infusion systems to administer liquid drugs. Ypsomed promotes and sells its product portfolio under the umbrella brands mylifeTM Diabetescare directly to patients or through pharmacies and clinics and under YDS Ypsomed Delivery Systems as business-to-business to pharmaceutical companies. Ypsomed has its headquarters in Burgdorf, Switzerland, and operates as a global network of manufacturing sites, subsidiaries and distributors. The Ypsomed Group employs nearly 1,700 employees.

This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about Lilly and Ypsomed's agreement for Lilly to commercialize an insulin pump, developed and manufactured by Ypsomed, as part of Lilly's connected diabetes solutions, currently in development, and reflects Lilly's current beliefs. However, as with any pharmaceutical product or medical device, there are substantial risks and uncertainties in the process of development and commercialization. Among other things, there is no guarantee that Lilly's connected diabetes solutions will receive regulatory clearance or be commercially successful or that the company will meet its anticipated timelines for the roll out of this platform.

Contact:

Thomas Kutt

Tel: +41 34 424 35 55

Email: thomas.kutt@ypsomed.com

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ELI LILLY AND COMPANY 2.19% 190.77 Delayed Quote.12.99%
YPSOMED HOLDING AG 0.14% 145.2 Delayed Quote.-2.02%
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Financials (USD)
Sales 2020 24 408 M - -
Net income 2020 5 802 M - -
Net Debt 2020 11 301 M - -
P/E ratio 2020 30,0x
Yield 2020 1,56%
Capitalization 173 B 173 B -
EV / Sales 2020 7,55x
EV / Sales 2021 6,63x
Nbr of Employees 33 625
Free-Float 99,8%
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Number of Analysts 20
Average target price 181,58 $
Last Close Price 190,77 $
Spread / Highest target 19,0%
Spread / Average Target -4,82%
Spread / Lowest Target -37,1%
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NameTitle
David A. Ricks Chairman, President & Chief Executive Officer
Joshua L. Smiley Chief Financial Officer & Senior Vice President
Timothy J. Garnett Chief Medical Officer & VP-Global Medical
Aarti S. Shah Chief Information & Digital Officer, Senior VP
Daniel M. Skovronsky Chief Scientific Officer & Senior Vice President
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