Lilly pays up to $3.35B for InnoCare's undiscovered drug targets

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Lilly pays up to $3.35B for InnoCare's undiscovered drug targets

Plus: OIG: Humana, UnitedHealthcare of Wisconsin overbilled Medicare $180M. The day's rules, money, and enforcement, sourced and tiered below.

Record

Eli Lilly, the pharma company behind weight-loss drugs Zepbound and Mounjaro, is paying a Chinese biotech up to $3.35 billion to hunt for new cancer and autoimmune drugs that do not exist as products yet.

InnoCare gets up to $100 million upfront and near-term, plus up to $3.25 billion in milestones, meaning 97% of the headline number depends on drugs that succeed in trials that have not even started.

Record

A federal watchdog says Humana and UnitedHealthcare, two of the biggest Medicare Advantage insurers, overbilled the government nearly $180 million by claiming patients were sicker than their own medical records show.

HHS OIG found unsupported diagnosis codes in 178 of 220 sampled HumanaChoice enrollee-years and 183 of 250 UnitedHealthcare of Wisconsin ones. OIG wants the money back; both insurers call the audit flawed and refuse to repay.

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