- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
- AIG, Ex-CEO Greenberg Reach Pact to Settle Disputes
- Bank of America CEO Search May Extend Into 2010
- 'Cancer of Fraud' Permeates Health Care System: Critics
- US Mint to Suspend American Eagle Gold 1-Ounce Coins
- Judge Erases Couple's $525,000 Mortgage Payment
- For Many in US, It Will Be a Scaled-Down Holiday Season
- Where Do Pardoned Turkeys Go?
- Jobless Claims Below 500,000, Durable Orders Slip
- Activision Prepares to Double Dip on ‘Modern Warfare 2’
MOST SHARED
- Garlic Price Rises Surpass Gold, Stocks in China
- New-Home Sales Jump 6.2% To Highest Level in Over Year
- S&P Stocks Trading at New 52-Week Highs
- US Plans to Reduce Emissions By 17% Within Next Ten Years
- Judge Erases Couple's $525,000 Mortgage Payment
- The Executive Job Search
- Where Do Pardoned Turkeys Go?
- Salvation Army's Kettles Now Credit Card-Ready
- US Mint to Suspend American Eagle Gold 1-Ounce Coins
- Activision Prepares to Double Dip on ‘Modern Warfare 2’
Text Size 
Big pharma company Eli Lilly is coming under fire. CNBC's Pharmaceuticals Reporter Mike Huckman had the late breaking details on this morning’s “Squawk Box.” Huckman reported that
Eli Lilly [LLY
Loading...
()
] said sales of its top selling drug Zyprexa would be “stable” next year (the drug is used for schizophrenia and bipolar disorder).
But this morning--investors are skeptical about that forecast in the wake of back to back front page stories in the New York Times.
The Times reports that some patients have put on more than a hundred pounds from use of the drug. A plaintiffs' lawyer gave the times internal Lilly documents and emails suggesting the company tried to downplay those side effects.
Today the Times reports on marketing documents that indicate Lilly pushed use of the drug on elderly people with dementia--but was unapproved to do so.
Over the past few years--use of Zyprexa stopped growing as fast as it had been--because of lingering concerns over side effects like weight gain and diabetes.
Lilly says in a press release the emails and documents have been taken out of context..."these leaked documents do not accurately portray Lilly's conduct."
The threat to the Zyprexa franchise is pressuring Lilly shares ahead of the open this morning.
Analysts estimate Zyprexa is responsible for 1/3 to ½ of Lilly's profits.
Separately, Lilly is raising its bid for Icos [ICOS
Loading...
()
], set for a shareholder vote tomorrow, by two bucks to 34 dollars a share.
Less than two weeks ago Lilly CEO Sydney Taurel told Huckman he wasn't budging on the Icos price - that he considered it a full and fair offer.
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
- Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.
- How can you get out of debt and back on the road to recovery? Follow these ten steps.
Data is a real-time snapshot *Data is delayed at least 15 minutes