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…
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[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
Contact [email protected] for any questions or corrections.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
