Covid-19 afflicts Eli Lilly’s share price and a KRAS drug gets tossed, but Jardiance win salves the wound as an antibody effort advances to PhII
Shares of Eli Lilly $LLY tumbled close to 2% on Thursday in a toxic reaction to its mixed revenue performance in the face of the pandemic during Q2. But investors found solace in a promising Phase III readout for Jardiance, as their blockbuster continues to blaze a trail to much bigger markets.
Their SGLT2 inhibitor beat out a placebo in reducing the risk for the composite of cardiovascular death or hospitalization due to heart failure, when added to standard of care. The drug hit the primary endpoint, added Lilly, noting that the full data readout will come at the European Society of Cardiology (ESC) Congress at the end of August.