IBJNews

Lilly discontinues late-stage trial in rheumatoid arthritis

Back to TopCommentsE-mailPrintBookmark and Share

Eli Lilly and Co. said it discontinued a trial of an experimental rheumatoid arthritis drug for lack of efficacy.

The trial, in the last stage of three generally required for regulatory approval, is one of three studies of tabalumab in rheumatoid arthritis, the Indianapolis-based company said Thursday in a prepared statement. The decision wasn’t based on safety concerns, Lilly said.

The company is still weighing the drug in the two other late-stage studies, and is holding off on enrolling new patients until more analyses are finished early next year. Those studies are being done in different populations of patients, Lilly said. The company is still evaluating tabalumab in systemic lupus erythematosus.

“The results of this study were unexpected given the data generated in earlier Phase II clinical studies of tabalumab,” Eiry Roberts, Lilly’s vice president of autoimmune product development, said in the statement. “We remain committed to patients with rheumatoid arthritis and lupus and will move rapidly to evaluate the impact of these data on the overall tabalumab clinical development program.”

Lilly said it expects to take a pretax charge of $20 million to $35 million in the fourth quarter, or about 2 cents a share after tax. The company’s 2012 forecast is unchanged, it said.

Two other companies reported discouraging trial results for a rheumatoid arthritis drug on Thursday. AstraZeneca PLC and Rigel Therapeutics Inc. said their drug fostamatinib did not work as well as Abbott Laboratories Inc.'s Humira in a mid-stage clinical trial. AstraZeneca is running a larger trial of fostamatinib and expects to get results in early 2013.

Rigel's stock plunged 34.6 percent, to $5.51 per share, Thursday on the news.

Humira is the leading rheumatoid arthritis drug by sales, bringing in about $9 billion in annual revenue.

Rheumatoid arthritis is a major area of research for drug companies because it is a chronic condition, meaning patients will likely take the drugs regularly for a long time. In November, the Food and Drug Administration approved a new treatment for the disease, Pfizer Inc.'s twice-a-day pill Xeljanz.

Shares of Lilly lost 77 cents, to $48.23 each, on Thursday. AstraZeneca shares fell 2.9 percent, to $47.46, and shares of Abbott Laboratories lost 69 cents, to $65.32.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. I keep wondering why I keep hearing about this problem of corporations leaving America, and I never hear a reasonable proposal to lower corporate tax rates and raise personal rates on income from capital gains and dividends, especially for high earners. It is just too simple of a solution for Congress to embrace?

  2. Are you financially down and you need money to settle your dept,or you need money to start up a business or to invest on a huge business,we also offer Loans to individuals, Firms and cooperate bodies at low interest rate , loan terms determinant,Loan amount between the sum of $5,000.00 to $100,000,000.00. US Dollars And Euro. Loan for developing businesses a competitive edge/ business expansion. We Offer The Following Kinds Of Loans. Personal Loans (Secure and Unsecured) Business Loans (Secure and Unsecured) Consolidation Loan FIRST INFORMATIONS NEEDED ARE: BORROWER’S DATA’S INFORMATION,FILL AND RETURN FOR QUICK START UP PROCESS. Name:_________ Last Name:_________ Age:_________ Contact Address:_________ Country:_________ Amount Needed as Loan:_________ Loan Duration:_________ Phone Number__________ Monthly Income/Yearly Income:_________ Purpose for Loan:_________ Occupation:_________ How Soon is Loan Needed__________ Email via: albertbrownfirm@outlook.com

  3. is a disaster. SR37 already needs to be built to interstate standards between 465 and SR144. Southport Road is a mess each morning and evening.

  4. Bass Pro Shops would be good for the mall as well as a Giant Eagle Market District or a Jungle Jim's International Market Place grocery store like the one near Cincinnati Ohio.A Disney quest indoor theme park would be good.An Academy outdoor store would be good too.Indoor Circus shows and magic shows would be good as well. A casino with sports bar would be good.A Disney theater inside that shows movies and Broadway shows would work.Nashville Tennessee concert shops with indoor neon lights would be good.How about a theater that shows travel shows and theme parks. A train store would be good.How about a giant toy store with high tech video games.

  5. This development is in addition to Allpoints Midwest 5, Aitrtek, a recent FedEx and more in Plainfield. Greenwood and Brownsburg also have similar projects.

ADVERTISEMENT