Drug failure hurts Eli Lilly
Investors hammered stock in Indianapolis drugmaker Eli Lilly Wednesday after one of the company’s potential Alzheimer’s drugs failed a clinical trial.
The company said solanezumab did not slow patients’ mental decline compared to a placebo. The results dashed hopes that Eli Lilly researchers had finally found a drug that does more to help those suffering from the fatal, mind-robbing disease. Alzheimer’s is a deadly, degenerative disease that impairs memory and thought. With more than 5 million people in the United States afflicted, it’s the most common form of dementia. It’s also the sixth-leading cause of death in the U.S. and the only one with no prevention, cure or even a way to slow its progression, according to the Alzheimer’s Association.