Good news for Lilly on novel breast cancer therapy
Shares of US pharma major Eli Lilly (NYSE: LLY) ticked upwards on news that the company’s breast cancer candidate abemaciclib has performed well in a Phase III study.
Abemaciclib is a CDK 4 and CDK 6 inhibitor, a new kind of therapy that scientists believe have a lot of potential in oncology.
The first therapy of this type to receive approval was Ibrance (palbociclib), which brought in $643 million in sales for Pfizer (NYSE: PFE) in 2016. Last week, the US Food and Drug Administration gave Novartis (NOVN: VX) approval for Kisqali (ribociclib) in breast cancer.
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