Eli Lilly rockets 14% after experimental Alzheimer’s drug slows rate of decline in trial

SourceBusiness Insider
SectorEconomy
CountryMiddle east

FILE PHOTO: Lilly logo on a wall of Lilly France, part of Eli Lilly and Co, in Fegersheim, France Reuters Eli Lilly rallied as much as 13.8% on Monday after announcing its experimental Alzheimer's drug significantly slowed the rate of decline in patients.The drug slowed the decline in patients' ability to think by 32% compared to a placebo in the phase 2 trial, according to a press release.Lilly will present full trial results at a future meeting and submitted data for publication in a peer-reviewed journal.Watch Eli Lilly trade live here. Eli Lilly soared as much as 13.8% on Monday after the pharmaceutical giant revealed its experimental Alzheimer's drug slowed the rate of decline in trial patients. The drug, called donanemab, slowed the decline of patients' ability to think by 32% compared to a placebo, the company said in a press release. If the drug is as effective as the study suggests, donanemab could be the first Alzheimer's drug to show positive results in a phase 2 trial, according to The New York Times. The study included 272 patients and studied patients' declines over two years. The drug's primary goal was to show a significant slowing of decline in a composite measure of cognition ...read more...