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.

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