Another week, another promising drug result from Eli Lilly (LLY). The market’s hottest pharmaceutical company is rising again today after announcing that in a Phase III trial its cancer drug ramucirumab “met its primary endpoint of improved overall survival and also showed prolonged progression-free survival.”
“We are pleased with this data of ramucirumab used as monotherapy in a second-line setting in this difficult-to-treat disease. It reinforces our confidence in the ramucirumab development program, in which we currently have six Phase III studies ongoing in five tumor types � breast, colorectal, gastric, hepatocellular and lung cancer,” said Richard Gaynor, M.D., vice president, product development and medical affairs for Lilly Oncology.
The Street continues to warm to Lilly’s prospects, following promising results from the company’s experimental Alzheimer’s drug solanezumab.
Lilly shares were up 4.5% in midday trading. The company’s shares are trading near four-year highs.
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