Lilly leaps on positive outlook as it 'moves past negative solanezumab data'

Shares in US pharma major Eli Lilly (NYSE: LLY) were up by 4%, at $70.51 by lunchtime on Thursday, following the company’s announcement of its 2017 financial guidance and outlook for the next decade.

It has not been an easy few weeks for Lilly, which announced the failure of solanezumab, its lead candidate for Alzheimer’s disease, in a Phase III trial, in late November. This news sent the company’s stock value plummeting by 12.5% within hours. It was then reported last week that the company was planning to cut hundreds of jobs.

"As we move past the negative solanezumab data read-out, Lilly's innovation-based strategy is generating strong momentum in multiple therapeutic areas"