Eli Lilly & Co. reported fourth- quarter profit that beat analysts’ estimates as higher sales of its depression and diabetes medicines helped to counter a 44 percent plunge in revenue from the schizophrenia drug Zyprexa.

Net income fell 27 percent to $858.2 million, or 77 cents a share, the Indianapolis-based company said today in a statement. Profit excluding one-time items beat by 6 cents the average of 17 analyst estimates compiled by Bloomberg.

Takeda Pharmaceutical has a new U.S. biotech to add to its portfolio of drug developers. The pharma outfit announced this morning that it will buy out La Jolla, CA-based Intellikine and scoop up its portfolio of experimental cancer treatments for $190 million in cash and $120 million in promised milestones. Coincidentally, Takeda also laid out a plan to consolidate its two California subsidiaries--which includes a legacy group from an earlier acquisition--into a single operation based in San Diego.

Pharma giant Merck ($MRK) has mapped out 47,000 square meters of new lab and office space for itself in a Beijing business park destined to become its new Asian R&D headquarters. The first phase should open in 2014 as the new home for 600 workers, who will handle everything from discovery through clinical development and regulatory projects for the company's global operations.

After the FDA dropped its breast cancer label on Avastin this month, Swiss pharma giant Roche could regain some steam in early December when it presents full data on its late-stage experimental breast cancer drug pertuzumab. There's a lot riding on the success of the drug, which analysts have estimated could bring in about $2 billion in annual revenue if approved.

Nov. 30 (Bloomberg) -- Pfizer Inc.’s long dependence on the cholesterol pill Lipitor to produce almost one-fifth of the company’s revenue begins eroding today when the drug’s patent protection ends in the U.S.

Would-be Enbrel copycats, get out your handkerchiefs. Amgen ($AMGN) says it has a new patent protecting the blockbuster anti-inflammatory drug, which could protect it from generic rivals for another 17 years. If the patent holds up, then drugmakers with biosimilar ambitions--including Merck ($MRK), which has teamed up with South Korea's Hanwha Chemical to develop an Enbrel version--will find those aims squashed until 2028.

Cambridge, MA-based Radius Health has drawn down a $27.7 million tranche from its $91 million financing round as it bores ahead with a pivotal Phase III program for its bone-building drug. In addition to the $21.4 million the biotech gathered from its venture backers, GE Capital, Healthcare Financial Services and Oxford Finance chipped in with a $6.3 million loan. Radius has now collected $57.3 million from its roster of supporters.