Alzheimer's Drug Shows Some Success (LLY, PFE, ELN)

Drugmaker Eli Lilly & Co. (NYSE: LLY) announced this morning that the company's solanezumab treatment for Alzheimer's disease failed to meet both the cognitive and functional endpoints in recently completed phase 3 double-blind trials. The Eli Lilly trials did yield some success though:

[A] pre-specified secondary analysis of pooled data across both trials showed statistically significant slowing of cognitive decline in the overall study population of patients with mild-to-moderate Alzheimer's disease. In addition, pre-specified secondary subgroup analyses of pooled data across both studies showed a statistically significant slowing of cognitive decline in patients with mild Alzheimer's disease, but not in patients with moderate Alzheimer's disease.

About a month ago, rivals Pfizer Inc. (NYSE: PFE) and Elan Corp. PLC (NYSE: ELN) said that their jointly developed Alzheimer's treatment, bapineuzumab, had failed late-stage trials.

The company's CEO/chairman/president said:

We recognize that the solanezumab studies did not meet their primary endpoints, but we are encouraged by the pooled data that appear to show a slowing of cognitive decline. We intend to discuss these data with regulatory authorities to gain their insights on potential next steps.

Eli Lilly's shares are up about 5% in premarket trading this morning, at $44.50 in a 52-week range of $34.94 to $44.67.

Paul Ausick


Filed under: 24/7 Wall St. Wire, Drug companies, Pharmaceuticals, Regulation Tagged: ELN, LLY, PFE
Read Full Story

Markets

DJIA 21,899.89 196.14 0.90%
NASDAQ 6,297.48 84.35 1.36%
S&P 500 2,452.51 24.14 0.99%
NIKKEI 225 19,457.61 73.77 0.38%
HANG SENG 27,401.67 246.99 0.91%
DAX 12,229.34 163.35 1.35%
USD (per EUR) 1.18 0.00 -0.02%
USD (per CHF) 0.97 0.00 -0.02%
JPY (per USD) 109.47 -0.26 -0.23%
GBP (per USD) 1.28 0.00 -0.01%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.