The CHMP, Europe's equivalent of an FDA advisory committee that almost always gets its way, recently issues a slew of recommendations for the EU's health agency. One of the biggest winners was Eli Lilly (NYSE: LLY).
Struggling with the patent cliff, Lilly is in the process of reinventing itself as a diabetes fighting powerhouse. One of the cornerstone franchises helping power that transformation is a less expensive generic version of the $8 billion blockbuster Lantus. Sanofi's (NYSE: SNY) insulin is one of the world's top selling drugs, but it will have a fight on its hands from Eli Lilly's Abasria. As the only biosimilar Eli Lilly will be able to undercut Sanofi, but at the same time not have a price war to the bottom that squeezes out profits.
In this episode of Where the Money Is, health care analysts David Williamson and Michael Douglass discuss the latest decisions coming out of Europe and which big pharma stocks were the biggest winners.