Pharma major Eli Lilly & Co.(NYSE:LLY) has sown
that use of its experimental Alzheimer's drug, Solanezumab, may modestly slow
down mental declines, especially in those patients who have a milder form of the
disease or are in the initial stages.
It required the combined results of two studies to
arrive at this conclusion. Taken separately, studies on the drug show that it
missed the main goals of slowing down the disease or improving activities.
But when the two results were combined there was a
significant 4 percent less mental decline in mild Alzheimer's patients compared
to those who were on a placebo treatment for 18 months.
After the results of the studies were made public at
the annual meeting of the American Neurological Association, shares in Eli
Lilly rose to four-year highs. The stock soared 5.3 percent to $50.78 on Monday
taking its total gains to 19 percent since August when it had described the
results in general terms.
“It’s certainly not the home run we all wanted, but
we’re very encouraged by these results,” said Maria C. Carrillo, senior
director of medical and scientific relations for the Alzheimer’s Association,
which had no role in the research.
The drug Solanezumab, which is still under trials,
aims to bind to and help clear the sticky deposits that clog patients’ brains.
The two studies each had about 1,000 patients, about
two-thirds with mild disease and one-third with moderately severe Alzheimer’s,
in 16 countries. Their average age was 75.
Eli Lilly said that it would soon be seeking to file
the drug for FDA approval.
Shares of LLY surged 5.30% to $50.78 and made
multi-year high of $50.94.
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