Eli Lilly (LLY) stock jumped to a 10-year high above 75 on the stock market today after Morgan Stanley upgraded the stock to overweight from underweight. In afternoon trading, Lilly stock was near 73, up 2.5%. Analyst David Risinger raised his expectations for two potential blockbusters in the pipeline: cholesterol drug evacetrapib and Alzheimer’s disease treatment solanezumab. He only put 50% odds of success on both of their phase three trials,
Big pharma Eli Lilly (LLY) said Monday that its drug candidate reduced blood sugar in diabetics more than another leading treatment. The company’s stock rose a fraction on the stock market today. The phase-three clinical trial showed Lilly’s basal insulin peglispro (BIL) outperformed Sanofi’s (SNY) Lantus in patients with type 2 diabetes, though it did not yet release the exact numbers. Lilly also said patients on BIL showed less weight gain than
Big pharmas Novartis (NVS), GlaxoSmithKline (GSK) and Eli Lilly (LLY) announced a massive exchange of business units Tuesday morning in a set of deals with a total value of more than $28 billion. Novartis and Glaxo rose on the stock market today, while Lilly slipped a fraction. Switzerland-based Novartis agreed to buy British Glaxo’s oncology business for $14.5 billion, plus up to $1.5 billion in milestone payments depending on how products in the