UPDATE 4-Lilly cancer drug fails key trial, will no longer be prescribed [Reuters]
Eli Lilly and Company (LLY)
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Source: Reuters
Lilly cancer drug fails key trial, will no longer be prescribed (Reuters) - Eli Lilly and Co said on Friday that its cancer treatment Lartruvo, which had won conditional approval, failed to improve patient survival in a long-term confirmatory study and will no longer be prescribed, driving the drugmaker’s shares down nearly 3 percent. No new U.S. patients will be started on the drug and Lilly is suspending promotion of the medicine, the company said. Lartruvo won accelerated approval in 2016 in the United States and conditional approval in Europe based on results from a promising mid-stage trial. But its continued approval was contingent on the results of a larger, late-stage trial confirming the drug’s benefits. On Friday, Lilly said Lartruvo combined with the standard-of-care chemotherapy doxorubicin did not prolong survival more than doxorubicin alone in patients with advanced soft tissue sarcoma. Lilly oncology chief Anne White said in a phone interview the results were “complete
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Earnings
- 2/6/24 - Miss
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Sec Filings
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- LLY's page on the SEC website