Lilly exec shake up and split of Bio-Medicines business

US pharma major Eli Lilly (NYSE: LLY) has announced executive leadership changes and the creation of neuroscience and immunology business units. Effective September 5, Lilly Bio-Medicines will split into two business units: Lilly Neuroscience and Lilly Immunology.

These changes will increase Lilly's focus on introducing breakthrough new medicines to millions of people with unmet needs, said the company, whose shares closed up 1% on Tuesday and gained a further 1.2% to $275.98 pre-market today.

Anne White, currently senior vice president and president of Lilly Oncology, will lead Lilly Neuroscience as senior vice president and president. An experienced leader in drug development who has led and grown Lilly's oncology business over the past several years, Ms White will be responsible for Lilly's launched products and Phase III portfolio in pain and neurodegeneration, including the potential launch of donanemab for the treatment of Alzheimer's disease. The company recently announced Breakthrough Therapy designation for donanemab and its intention to submit a biologics license application (BLA) under the accelerated approval pathway later this year.