Corporate News Blog - Lilly Announces Galcanezumab Results Presented at AHS; Reported Reduced Number of Migraine Headache Days for Patients with Acute Migraine
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LONDON, UK / ACCESSWIRE / June 13, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Eli Lilly and Co. (NYSE: LLY). The Company announced on June 10, 2017, positive results from three Phase-3 studies of galcanezumab, an investigational treatment for the prevention of an episodic and chronic migraine, including late-breaking data on several key secondary endpoints for galcanezumab compared to placebo at both studied doses. The Company presented the detailed results from the EVOLVE-1, EVOLVE-2, and REGAIN studies at the American Headache Society annual scientific meet at Boston, on June 10, 2017. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Details of the Studies
In the EVOLVE-1 and EVOLVE-2 studies, conducted over a 6-month period, the patients with episodic migraine were treated with galcanezumab 120 mg and 240 mg doses, where a decrease in the average number of a monthly migraine headache days was observed versus the patients treated with placebo, with improvements observed each month post one of treatment.
The drug galcanezumab helps inhibit a group of proteins, known as calcitonin gene-related peptides which are known to cause severe headaches. Across the EVOLVE-1, EVOLVE-2, and REGAIN Phase-3 studies, patients experiencing a greater number of monthly migraine days had significantly fewer headaches each month.
About EVOLVE-1 and EVOLVE-2 Results
EVOLVE-1 and EVOLVE-2 are six-month Phase-3, randomized, double-blind, placebo-controlled global trials evaluating the safety and efficacy of two doses of galcanezumab administered subcutaneously, against placebo in 1,773 patients, with an episodic migraine. The patients participating in these trials had an average of 9.1 migraine headache days per month, at the first level.
EVOLVE-1 Results
About 50% of reduction for 62.3% at 120 mg and 60.9% for 240 mg of dosage compared to 38.6% for placebo.
About 75% reduction for 38.8% at 120 mg and 38.5% for 240 mg against 19.3% for placebo.
100% reduction for 15.6% at 120 mg and 14.6% for 240 mg against 6.2% for placebo.
EVOLVE-2 Results
About 50% reduction for 59.3% at 120 mg and 56.5% for 240 mg against 36.0% for placebo.
About 75% reduction for 33.5% at 120 mg and 34.3% for 240 mg against 17.8% for placebo.
100% reduction for 11.5% at 120 mg and 13.8% for 240 mg against 5.7% for placebo.
The patients treated with galcanezumab in both studies reported a greater reduction of a monthly migraine headache days, with acute medication use against placebo compared over the six-month treatment period post multiplicity adjustment.
About REGAIN Results
REGAIN is a three-month Phase-3, randomized, double-blind, placebo-controlled global trial that evaluates the safety and efficacy of two doses of galcanezumab administered subcutaneously against placebo in 1,113 patients with a chronic migraine. The participating patients had an average of 19.4 migraine headache days per month at the first level.
The Company reported that over the three-month treatment period, patients with chronic migraine treated with galcanezumab 120 mg and 240 mg doses experienced a greater decrease in the average number of a monthly migraine headache days against patients treated with placebo. Eli Lilly reported that improvements were observed for both doses of galcanezumab at each month, post one month of treatment. The patients under the study achieved about 50% reduction in the number of migraine headache days against placebo over the three-month treatment period.
Company Growth Prospects
Eli Lilly, in the recent years, has aimed to expand its business apart from the headache-solutions and research business. On June 08, 2017, the Company paid $55 million up front to KeyBioscience in exchange for rights to compounds in various stages of development. KeyBioscience is a subsidiary of Nordic Bioscience and will be eligible for additional payments tied to development and regulatory milestones.
Last Close Stock Review
Eli Lilly's share price finished yesterday's trading session at $80.90, slightly sliding 0.17%. A total volume of 2.84 million shares have exchanged hands. The Company's stock price surged 20.40% in the past six months and 9.40% in the previous twelve months. Additionally, the stock gained 9.99% since the start of the year. Shares of the Company have a PE ratio of 39.29 and have a dividend yield of 2.57%. The stock currently has a market cap of $88.47 billion.
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