Merck, Eli Lilly and Pfizer announced a plan to create a not-for-profit company in Asia to speed up Cancer research and treatments.

The Asian Cancer Research Group has set an example of collaboration among major drug companies to combine resources and expertise to rapidly increase the knowledge of a disease and the disease process.

The Scottish Medicines Consortium has announced the approval for the use of Eli Lilly's Alimta for lung cancer and Janssen-Cilag's Stelara for psoriasis on the National Health Service.

Bristol-Myers Squibb claims to witness stronger-than-expected fourth quarter earnings, backed by sharply lower taxes and cost cuts, and augurs its 2010 earnings in line with Wall Street expectations, and Eli Lilly, on the other hand, has also seen a profit over the period.

The U. S. Food and Drug Administration (FDA) on Friday approved Eli Lilly's blood thinner Effient, but the drug is required to carry the agency's sternest warning due to its bleeding risks.

The US FDA's outside advisory panel has given a somewhat 'cautious' consent nod for the use of three commonly-used antipsychotic medications for children and teens with schizophrenia or bipolar disorder.

On Wednesday, an advisory committee of the Food and Drug Administration will vote on whether three best-seller psychiatric drugs, presently approved for treatment of schizophrenia and bipolar disorder in adults, should be used for treating similar disorders in adolescents as well.

Addressing widespread apprehensions about the popular impotence medications, like Viagra and Cialis, in a company-funded study, the US researchers came to the conclusion that the use of such erectile dysfunction (ED) drugs did not have any noteworthy vision-related side effects on the otherwise hale and hearty men during a six-month testing period.

Amylin Pharmaceuticals, Inc., Eli Lilly and Company and Alkermes, Inc. announced that their diabetes drug Byetta (exenatide) was not linked to increased cardiovascular events, strokes or other cardiovascular side effects.

New drug, Symbyax got approval of the Food and Drug Administration as a therapy for treatment-resistant depression.

Drug developer Eli Lilly & Co said that Symbyax is the first drug approved by FDA for the acute treatment of treatment-resistant depression, which involves two failed attempts with other anti-depressants.

Eli Lilly & Co and Japan's Daiichi Sankyo Co won European approval for their blood-thinning drug Efient, also known as prasugrel to treat heart patients with acute coronary syndrome who get artery-clearing angioplasty procedures.