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Eli Lilly's $165 million R&D acquisition is questioned by the US SEC

 Last Update: 2022-06-12
 Source: Internet
 Author: User

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A few days ago, Lilly’s development milestone payments of up to $165 million were charged and questioned by the U.

The SEC said that none of the payments were in compliance with generally accepted GAAP standards of accounting issued by the Financial Accounting Standards Board, and emphasized in the notification letter that the charges would have an impact of approximately $0.

In addition, in the SEC letter, Lilly was asked to provide unaudited historical financial information about the acquisition and to post the information on the investor page of its website

In February 2021, Eli Lilly came under scrutiny by the SEC for "inappropriate communications" between former CFO Josh Smiley and multiple employees

The move is seen as a powerful move by the U.

Reference source: Eli lilly faces $165m in charges over r&d acquisitions in latest sec exchange

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