Eli Lilly is expanding its international operations to target diabetes and tuberculosis in areas without access to proper treatment, CEO John Lechleiter said Tuesday.
Lechleiter told CNBC’s “Squawk Box” the pharmaceutical giant will expand a program already in place to provide parts of Brazil, Mexico, South Africa, and India with treatment for Type 2 diabetes.
Lechleiter, who is stepping down as CEO, president and chairman this year, said the company hopes to reach 30 million people on an annual basis by the year 2030.
Lechleiter, who will stay on as nonexecutive chairman, is being replaced by Senior Vice President Dave Ricks. Lechleiter said Ricks, a longtime employee, will be the “perfect person” to lead the company through the numerous product launches it expects by 2023.
The pharmaceutical giant reports earnings on Oct. 25. Analysts expect $3.59 earnings per share, according to Thomson Reuters.
Big Pharma has long seen the potential for AI and machine learning to accelerate drug development. But Novo Nordisk is going a step further by channeling $200 million toward the creation of a computer that will outrun anything in existence.
Current methods for diagnosing Alzheimer’s disease rely on a complex combination of self- and caregiver-reported symptoms, a physical examination and either a PET scan or a spinal tap to look for evidence of amyloid plaque build-ups in the brain. But a new artificial intelligence-based method may make the diagnostic process a much more objective one.
There is lots of talk about diversity and inclusion in business, including in pharma and medtech. A new report by the Open Political Economy Network (OPEN), a think tank focusing on migration and diversity, released its “Minority Businesses Matter: Europe” report highlighting the successes and challenges of ethnic minority-owned businesses in Europe.