Lilly tacks on $2.9B on additional solanezumab data
Eli Lilly and Co. (NYSE:LLY) added about $2.9 billion in market cap on Monday after reporting subgroup data from two Phase III trials of Alzheimer's disease product solanezumab that previously missed their primary endpoints. Pooled data from the trials showed that patients with mild AD had a 34% reduction in cognitive decline, which was significant compared to placebo (p=0.001). Patients with mild disease also had a 17% reduction in functional decline, but the difference was not statistically significant compared to placebo (p=0.057). Cognitive decline was measured by the Alzheimer's Disease Assessment Scale-Cognitive 14-item subscore (ADAS-Cog14); functional decline was measured by the AD Cooperative Study-Activities of Daily Living (ADCS-ADL) inventory. In August, Lilly reported that the trials missed their respective primary endpoints, which included measures of cognition and function (see BioCentury Extra, Aug. 24). ...