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Eli Lilly and Company (LLY - Free Report) and AstraZeneca plc (AZN - Free Report) expanded their existing collaboration to develop the second treatment for Alzheimer's disease, MEDI1814.
Incidentally, failure of Lilly’s high-profile investigational Alzheimer disease candidate, solanezumab, hurt the company’s share price last month. On Nov 23, the company announced that solanezumab did not meet the primary endpoint in a late-stage study and decided to cease the development of the candidate.
The stock crashed on the news and eventually hit a 52-week low. In fact, Lilly’s share price has slipped 11.9% in the past one month. The decline in Lilly’s share price compares unfavorably with the 2.4% decrease witnessed by the Zacks classified Large-Cap Pharma industry.
MEDI1814, an antibody targeting beta amyloid, is presently in phase I studies. Beta amyloid is a protein that forms plaques in the brain and plays an important role in Alzheimer's disease. MEDI1814 is designed to reduce the levels of this protein, thereby slowing the progression of the disease.
Lilly will make a $30 million upfront payment to AstraZeneca, for which it will record a charge of approximately 2 cents share (after tax) in the fourth quarter of 2016.
Lilly and AstraZeneca already have a collaboration agreement for another Alzheimer disease candidate, AZD3293.
AZD3293 is a BACE inhibitor that is being evaluated in a phase III studiesfor early Alzheimer’s disease.
Biogen Inc. (BIIB - Free Report) is also developing an antibody treatment targeting beta amyloid, aducanumab, which is being evaluated in two phase III studies in early AD.
Alzheimer’s disease has attracted a lot of attention of late given that the market represents huge commercial potential and a successfully developed product could generate billions of dollars in sales once launched. However, the successful development of therapies for the treatment of the disease is quite challenging and we note that a significant number of companies have failed in doing so.
Pfizer (PFE - Free Report) shelved its late-stage Alzheimer’s candidate, bapineuzumab IV, an antibody targeting beta amyloid, after it failed in two phase III studies.
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Lilly/AstraZeneca Expand Alzheimer Disease Collaboration
Eli Lilly and Company (LLY - Free Report) and AstraZeneca plc (AZN - Free Report) expanded their existing collaboration to develop the second treatment for Alzheimer's disease, MEDI1814.
Incidentally, failure of Lilly’s high-profile investigational Alzheimer disease candidate, solanezumab, hurt the company’s share price last month. On Nov 23, the company announced that solanezumab did not meet the primary endpoint in a late-stage study and decided to cease the development of the candidate.
The stock crashed on the news and eventually hit a 52-week low. In fact, Lilly’s share price has slipped 11.9% in the past one month. The decline in Lilly’s share price compares unfavorably with the 2.4% decrease witnessed by the Zacks classified Large-Cap Pharma industry.
MEDI1814, an antibody targeting beta amyloid, is presently in phase I studies. Beta amyloid is a protein that forms plaques in the brain and plays an important role in Alzheimer's disease. MEDI1814 is designed to reduce the levels of this protein, thereby slowing the progression of the disease.
Lilly will make a $30 million upfront payment to AstraZeneca, for which it will record a charge of approximately 2 cents share (after tax) in the fourth quarter of 2016.
Lilly and AstraZeneca already have a collaboration agreement for another Alzheimer disease candidate, AZD3293.
AZD3293 is a BACE inhibitor that is being evaluated in a phase III studiesfor early Alzheimer’s disease.
Biogen Inc. (BIIB - Free Report) is also developing an antibody treatment targeting beta amyloid, aducanumab, which is being evaluated in two phase III studies in early AD.
Alzheimer’s disease has attracted a lot of attention of late given that the market represents huge commercial potential and a successfully developed product could generate billions of dollars in sales once launched. However, the successful development of therapies for the treatment of the disease is quite challenging and we note that a significant number of companies have failed in doing so.
Pfizer (PFE - Free Report) shelved its late-stage Alzheimer’s candidate, bapineuzumab IV, an antibody targeting beta amyloid, after it failed in two phase III studies.
While Lilly has a Zacks Rank #4 (Strong Sell), AstraZeneca carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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