Positive Phase III Alzheimer's results send Lundbeck and Otsuka shares skywards
Danish firm Lundbeck (LUND: CO) and Japan’s Otsuka Pharmaceutical (TYO: 4578) brought some rare good news in a challenging disease as they announced positive results from a Phase III trial of brexpiprazole in the treatment of agitation in patients with Alzheimer's-type dementia.
The analysis concluded that there is a statistically-significant difference in the mean change from baseline to week 12 in the Cohen-Mansfield Agitation Inventory total score between brexpiprazole and placebo.
Monday’s announcement sent shares in both companies sharply upwards. Lundbeck was more than 10% higher as Europe’s trading day entered its final third, while Otsuka finished up 5% in Tokyo.
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