INDIANAPOLIS – Eli Lilly and Company announced Wednesday one of their experimental drugs used by those with mild dementia due to Alzheimer’s disease, failed to meet standards in clinical trial.
The EXPEDITION3 clinical trial, the first phase 3 trial to evaluate only people with mild dementia due to Alzheimer's disease, revealed those who took solanezumab, “did not experience a statistically significant slowing in cognitive decline compared to patients treated with placebo.”
"The results of the solanezumab EXPEDITION3 trial were not what we had hoped for and we are disappointed for the millions of people waiting for a potential disease-modifying treatment for Alzheimer's disease," said John Lechleiter, chairman, president and chief executive officer of Eli Lilly. "We will evaluate the impact of these results on the development plans for solanezumab and our other Alzheimer's pipeline assets."
The outcome of the study is expected to result in a fourth-quarter charge of approximately $150 million (pre-tax), or approximately $0.09 per share (after-tax).
Lilly will provide updated 2016 financial guidance and announce its 2017 financial guidance on Dec. 15 and will also conduct a conference call with the investment community.
Further findings from the three-study trial will be presented at the Clinical Trials on Alzheimer's Disease meeting on Dec. 8 at 9:15 p.m. To access the webcast, visit ctad-alzheimer.com.
