Eli Lil­ly’s $1.6B can­cer drug failed to spark even the slight­est pos­i­tive gain for pa­tients in its 1st PhI­II

Eli Lil­ly had high hopes for its pe­gy­lat­ed IL-10 drug pegilode­cakin when it bought Ar­mo last year for $1.6 bil­lion in cash. But af­ter re­port­ing a few months ago that it had failed a Phase III in pan­cre­at­ic can­cer, with­out the da­ta, its like­ly val­ue has plunged. And now we’re get­ting some ex­act da­ta that un­der­score just how lit­tle pos­i­tive ef­fect it had.

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