After years of pipeline failures, Eli Lilly and Co. is on a bit of a hot streak. This month alone, the Indianapolis-based drugmaker has reported positive results from clinical trials of four experimental drugs.
In the 1920s, Indianapolis was one of the most innovative cities in the nation. But after “the dark tragedy of the roaring twenties,” Indianapolis lost its edginess for decades and only recently has begun to regain it.
Lilly expects to soon announce late-stage clinical trial results for two biotech drugs designed to slow the inflammation caused by autoimmune diseases. By the end of the year, it will announce results for a third.
Lilly's stock had its biggest intraday gain since 2009 Thursday after it announced trial results that showed Jardiance lowered the risk of heart attacks, stroke and death in a large trial of adults with type 2 diabetes.
A jury found Lilly isn't liable for withdrawal symptoms experienced by a woman who quit the antidepressant Cymbalta. The verdict may give the drugmaker leverage in fending off more than 5,000 other lawsuits over the drug.
Shares of Eli Lilly and Co. stagnated in Wednesday morning trading as investors and patients wished that the effects of solanezumab were more pronounced. Rival Biogen offered muddy results from its own Alzheimer's drug.
New data released Wednesday morning suggest that Eli Lilly and Co.'s Alzheimer's drug has a modest but lasting impact on the memory-sapping disease. But analysts worry the impact is too small to be meaningful.
Immunocore Ltd., which this week achieved the biggest private fundraising by a European biotechnology firm in 10 years, plans to accelerate development of its cancer therapy using the money and seek expedited approval.