Eli Lilly Pops On Hope For Approval To Alzheimer’s Therapy
Investing.com
Published Jun 07, 2021 12:48PM ET
By Dhirendra Tripathi
Investing.com – Eli Lilly (NYSE:LLY) shares were up in double digits Monday on hope that its therapy for treating Alzheimer’s will soon get the approval of the U.S. drugs regulator.
The strength in the drugmaker’s shares followed the Food and Drug Administration’s nod for rival Biogen's (NASDAQ:BIIB) aducanumab, the first time in nearly 20 years that the regulator has approved a medicine to treat the fatal illness.
Alzheimer’s is an irreversible, progressive brain disorder that slowly destroys memory and thinking skills, and eventually, the ability to carry out simple tasks.
There are currently over 50 million people living with dementia around the world, with numbers expected to increase to nearly 152 million by 2050. Almost 10 million new cases of dementia are diagnosed each year worldwide.
Eli’s donanemab is a monoclonal antibody and has completed phase-2 trials.
The FDA has given an accelerated approval to Biogen’s aducanumab as the regulator was convinced that it provides a meaningful therapeutic advantage over existing treatments. Further trials of the drug will continue and meet the FDA norms for final approval.
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