Big FDA win for Lilly

Article Excerpt

ELI LILLY & CO., $891.46, is still a buy. The company (New York symbol LLY; TSINetwork Rating: Above Average) (www.lilly.com; Shares o/s: 950.2 million; Market cap: $847.3 billion; Yield: 0.6%) has continued to hit new all-time highs as it moves one step closer to winning approval for its Donanemab Alzheimer’s drug. The drug has now received support from a panel of experts who advise the U.S. Food and Drug Administration (FDA). The panel unanimously voted that the medicine, developed by Lilly and known as Donanemab, appears to be an effective treatment for certain Alzheimer’s patients. The experts also concluded, by an 11-0 vote, that the drug’s benefits outweigh its risks, despite some safety concerns. Though the FDA isn’t required to follow the recommendations of its advisory committees, it typically does. Meanwhile, final approval, if granted, would add another blockbuster product to Lilly’s portfolio, which has been buoyed by the success of the company’s GLP-1 drug for obesity. Eli Lilly is a buy. buy…