Eli Lilly & Co. (NYSE:LLY) might have hit upon a potential cancer cure

The pharmaceutical company based in Indianapolis, Eli Lilly & Co.(NYSE:LLY) has recently declared that they may have hit upon a long-term cure of stomach cancer, and that their recent tests have been successful, since they think that the medicine might ensure the increased rate of survival for the cancer patients, and might make the condition progression-free in they years to come, as well! They said that their medicine was compared to a placebo treatment which is given during the late stages of a certain clinical study.

The aftermath of this announcement led to the rapid climbing of the shares of the pharmaceutical company. The prices increased by three percent, and came to $51.97 after a $1.52 increment. This is the rate as it was during morning trading on Monday. Lilly says that the treatment, which has been named ramucirumab, has been studied extensively. They studied the effects of their treatment with that of the placebo, on late-stage patients with gastroesophageal junction cancers or gastric cancers. While the latter tends to affect the lining of the stomach, the former tends to spread the cancer on the area which connects the esophagus to the stomach. They have said that the treatment gives out progression free survival, which is the estimate before a disease spreads, or the time before the person in the study passes away.

Lilly will be revealing the details of their ground-breaking study soon, they said. It will most likely be revealed at a scientific meeting which is due to happen soon. They will also have to subject the treatment for drug-approval, for which they need to start talking to the regulators. The company spokeswoman said recently that the specifics will be revealed as soon as they are ready. The treatment and the findings are still at a very nascent stage, as of yet. The company is holding separate trials to measure the effect of the new drug with the chemo-drug paclitaxel. This trail too, will be a late-stage trial.

The company hit upon ramucirumab after their acquisition of ImClone Systems Inc. in 2008. Lilly is also hopeful of the effects the drug will have on other forms of cancer.