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☆ Eli Lilly assures investors it can overcome the high-quality problem of too much demand
▼ + stars: | 2024-04-30 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Eli Lilly 's raised guidance stole the show Tuesday, offsetting mixed first-quarter results and propelling shares higher by nearly 6%. Eli Lilly Why we own it: Eli Lilly's best-in-class drugs should enable growth above the industry average for many years to come. At their highs of the morning, shares of Eli Lilly traded above their all-time closing high of $792.28 set on March 4. In general, the more-bullish financial outlook helps make Eli Lilly's high price-to-earnings ratio coming into earnings more tolerable for investors. An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023.

Persons: Eli Lilly, Eli Lilly's, Lilly, Jim Cramer, Lilly's, Jim, Anat Ashkenazi, Zepbound, It's, Ashkenazi, Dave Ricks, donanemab, Jim Cramer's, Eli Lilly’s, Brendan McDermid Organizations: Revenue, LSEG, Novo Nordisk, Biogen, Merck, Pfizer, U.S, Drug Administration, Nexus Pharmaceuticals, CNBC, FDA Locations: Eisai, Zepbound, Trulicity, Wisconsin, New York City, U.S

☆ Biogen tops profit estimates as cost cuts take hold, Alzheimer's drug Leqembi launch picks up
▼ + stars: | 2024-04-24 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Biogen on Wednesday reported first-quarter profit that topped estimates as the company's cost-cutting efforts took hold and sales of its closely watched Alzheimer's drug, Leqembi, came in higher than expected. Biogen and Eisai 's Leqembi became the first drug found to slow the progression of Alzheimer's disease to win approval in the U.S. in July. Leqembi brought in about $19 million in sales for the quarter, up from the $10 million the drug generated last year. In February, Biogen CEO Chris Viehbacher told reporters that there were around 2,000 patients currently on Leqembi. Adjusting for one-time items, the company reported earnings of $3.67 per share.

Persons: Biogen, Leqembi, FactSet, Chris Viehbacher, LSEG Organizations: LSEG Locations: U.S

☆ Eli Lilly says FDA delays approval of Alzheimer's drug in surprise move
▼ + stars: | 2024-03-08 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Eli Lilly headquarters in Indianapolis, Indiana, US, on Wednesday, May 3, 2023. Eli Lilly said Friday that the Food and Drug Administration has pushed back its approval decision deadline for the drugmaker's experimental Alzheimer's treatment donanemab in a surprise move. The agency plans to call a last-minute meeting of its outside advisors to further review the treatment's safety and efficacy in a late-stage trial, Eli Lilly said. It's another setback for Eli Lilly, which is racing to compete with Biogen and Eisai. In 2021, the FDA approved an earlier, ill-fated Alzheimer's drug called Aduhelm from Biogen and Eisai, despite a negative recommendation from the agency's advisory panel.

Persons: Eli Lilly, Eli Lilly's, Leqembi, Anne White Organizations: and Drug Administration, FDA Locations: Indianapolis , Indiana, Biogen

☆ What Eli Lilly investors can learn from the slow launch of a competitor's drug
▼ + stars: | 2024-02-15 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Club holding Eli Lilly is expecting to get approval for its Alzheimer's treatment in the coming weeks, but investors looking for immediate financial success should temper their expectations. The FDA's decision on Lilly's drug, known as donanemab, is expected by the end of March. In the meantime, Eli Lilly's diabetes and obesity drugs, the heart of our investment thesis, should continue to fuel the lion's share of the company's topline growth. About 2,000 patients are currently taking Leqembi, Biogen said Tuesday, up from 800 at the time of the company's third-quarter report in November. LLY YTD mountain Eli Lilly's stock performance so far in 2024.

Persons: Eli Lilly, drugmaker Biogen, Eli Lilly's, —, Lilly, Biogen, Japan's, Chris Viehbacher, Viehbacher, Morgan Stanley, Lilly's, Donanemab, Mounjaro, Jim Cramer, Leqembi, Jim Cramer's, Jim Organizations: Food and Drug Administration, Drug Administration, Alzheimer's Association, FDA, Club, GE Healthcare, FactSet, Pharmaceutical, CNBC Locations: Indianapolis

☆ Biogen revenue and profit shrink on Aduhelm costs, slumping sales of multiple sclerosis therapies
▼ + stars: | 2024-02-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Biogen on Tuesday reported fourth-quarter revenue and profit that shrank from a year ago, as it recorded charges related to dropping its controversial Alzheimer's drug Aduhelm and as sales slumped in its multiple sclerosis therapies, the company's biggest drug category. Biogen booked sales of $2.39 billion for the quarter, down 6% from the same period a year ago. Revenue from multiple sclerosis products fell 8% to $1.17 billion as the therapies face competition from cheaper generics. Adjusting for one-time items, the company reported $2.95 per share. But the company expects its pharmaceutical revenue, which includes product revenue and its 50% share of Leqembi sales, to be flat this year compared to 2023.

Persons: Biogen, LSEG, Biogen's, Leqembi Organizations: LSEG, Biogen, Food and Drug, Reata Pharmaceuticals, FDA Locations: U.S

☆ Exclusive-Eisai Expects 1,500 Alzheimer's Patients in China Launch, Sees ‘Huge’ Growth
▼ + stars: | 2024-02-04 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +5 min

“China is one of the fastest-aging countries in the world and is one of the most important countries in the area of Alzheimer’s disease for Eisai,” a company spokesperson said. “The potential growth for Leqembi in China is huge.”Eli Lilly, which is developing a similar treatment called donanemab, told Reuters it has filed for approval in China. The Indianapolis-based company is now testing its drug in a 1,500-person trial with volunteers in China, Taiwan, South Korea and the EU, a spokesperson said. Leqembi, which works by removing a toxic protein called beta amyloid from the brain, is the first Alzheimer's treatment proven to alter the course of the fatal, brain-wasting disease. Once on treatment, suitable patients undergo a series of MRI scans to monitor for potentially fatal swelling and bleeding in the brain.

Persons: Julie Steenhuysen, Andrew Silver CHICAGO, ” Eli Lilly, Biogen, Liu Zhou, Eisai, ”, Hidemaru Yamaguchi, Soeren Mattke, Mattke, Andrew Silver, Caroline Humer, Bill Berkrot Organizations: Reuters, EU, Leqembi, Guangdong Medical University, ” Citi, Psychiatry, Siemens Healthineers, University of Southern, University of Southern California Brain Health Locations: SHANGHAI, China, ”, Leqembi, The Indianapolis, Taiwan, South Korea, Eisai, United States, Japan, Europe, U.S, University of Southern California, Chicago, Shanghai

☆ Biogen drops controversial Alzheimer's drug Aduhelm to focus on Leqembi, experimental treatments
▼ + stars: | 2024-01-31 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Biogen on Wednesday said it will discontinue the sale and development of its older and highly controversial Alzheimer's drug Aduhelm to refocus the company's efforts to treat the memory-robbing disease. The biotech company will focus on rolling out Leqembi, a newly approved Alzheimer's drug it developed with Japanese drugmaker Eisai . The U.S. Food and Drug Administration greenlit Aduhelm in 2021 under a program that fast-tracks promising treatments. The company said it will redistribute a large portion of the resources associated with Aduhelm to the rest of its Alzheimer's drug portfolio. Among the other Alzheimer's drugs Biogen has in development is BIIB080, which targets a toxic protein called tau in the brain.

Persons: Biogen, Aduhelm Organizations: U.S . Food, Drug Administration, CNBC PRO Locations: U.S, Swiss

Biogen will stop developing its Alzheimer’s treatment Aduhelm, a drug once seen as a potential blockbuster before stumbling soon after its launch a couple years ago. The company also is helping Japanese drugmaker Eisai sell another Alzheimer’s treatment, Leqembi, which already has full FDA approval. Leqembi is the first medicine that’s been convincingly shown to slow the cognitive decline caused by Alzheimer’s disease, though only modestly. Political Cartoons View All 253 ImagesAduhelm was the first new Alzheimer’s disease drug introduced in nearly two decades. But doctors were hesitant to prescribe the intravenous drug, given weak evidence that the drug slows Alzheimer’s.

Persons: drugmaker, Biogen, that’s, Aduhelm Organizations: Food and Drug Administration, Regulators, FDA, Cambridge, Inc Locations: Japanese, Cambridge , Massachusetts

☆ Why we like health-care stocks in 2024 despite their spotty record in presidential election years
▼ + stars: | 2024-01-18 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +11 min

The S & P 500 Health Care Sector index has outperformed the broader S & P 500 in just three of the past eight presidential election years dating back to 1992, according to FactSet data. So far in 2024, health care has been the best-performing sector in the S & P 500, climbing roughly 2%. .GSPHC .SPX YTD mountain Health care sector vs. S & P 500 YTD It's way too early for any grand predictions with Election Day 2024 about 10 months away. Nevertheless, we see attractive fundamentals in the year ahead for a host of health-care stocks, giving us the confidence to own Lilly, GE Healthcare and Danaher despite what history says about the group in presidential election years. After a strong 2022 for health care in a terrible overall market, investors last year placed a lower emphasis on the defensive characteristics of health care.

Persons: —, that's, Eli Lilly, Lilly, Jim Cramer, Jim, Sen, Bernie Sanders of, Joe Biden, Sanders, would've, Damien Conover, Conover, Biden, Eli Lilly's, Morningstar, Amgen, Morningstar's Conover, Lilly's donanemab, Humana, Bausch, Jim Cramer's, Frederick Florin Organizations: Health, GE Healthcare, Abbott Laboratories, Amgen, Novartis, Walgreens Boots Alliance, JPMorgan Healthcare Conference, Democratic, Morningstar, CNBC, Horizon Therapeutics, Novo Nordisk, Federal Reserve, General Electric, Medicare, Humana, UnitedHealth Group, Investors, AFP, Getty Locations: San Francisco, U.S, Bernie Sanders of Vermont, Canadian, Fegersheim, France

☆ Pfizer's twice-daily weight loss pill joins a long list of obesity drug flops
▼ + stars: | 2023-12-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

That includes Novo Nordisk 's Wegovy and diabetes treatment Ozempic as well as Eli Lilly 's diabetes drug Mounjaro. They have all skyrocketed in popularity — and slipped into shortages — over the last year for safely and successfully causing significant weight loss. But before the current weight loss industry gold rush, the path to treating obesity was strewn with failures dating back decades. In its full-year 2019 earnings, Eisai reported that Lorcaserin had sales of $28.1 million in the U.S. for the year. Sanofi's rimonabantAn obesity drug called rimonabant from Sanofi and Aventis was withdrawn from all markets in 2008 due to the risk of serious psychiatric problems, including suicide.

Persons: Eli Lilly, drugmakers, lorcaserin, Eisai, Lorcaserin Organizations: Getty, Pfizer, Novo Nordisk, U.S, Drug Administration, FDA, Aventis, Abbott Laboratories Locations: U.S, Sanofi

☆ Researchers return to Alzheimer's vaccines, buoyed by recent drug success
▼ + stars: | 2023-11-20 | by ( Julie Steenhuysen | ) www.reuters.com time to read: +6 min

The renewed interest in Alzheimer's vaccines follows a promising first attempt more than 20 years ago that was abandoned after 6% of study volunteers developed life-threatening brain inflammation known as meningoencephalitis. Dr. Reisa Sperling, an Alzheimer's researcher at Mass General Brigham in Boston, said she believes vaccines will play an important role as researchers look to prevent Alzheimer's. She is considering vaccines for her next study in asymptomatic people with Alzheimer's proteins in their blood, but not enough to register on brain scans. Alzheimer's vaccines are still in the early stages and will require large, years-long trials to show they work. Generating a strong immune response is critical for such vaccines, which would typically be given to older individuals with weaker immune systems, he said.

Persons: Brian Snyder, Eli Lilly's, Reisa Sperling, Brigham, “, ” Sperling, Walter Koroshetz, Mei Mei Hu, Vaxxinity, Hu, Michael Rafii, Rafii, Andrea Pfiefer, Johnson, Prothena, Gene Kinney, Julie Steenhuysen, Caroline Humer, Bill Berkrot Organizations: Alzheimer Research, Brigham, Women's, REUTERS, Rights, U.S . Food, Drug Administration, Mass, National Institutes of Health, UB, University of Southern, Johnson, Bristol Myers Squibb, Thomson Locations: Boston , Massachusetts, U.S, Boston, Taiwan, University of Southern California

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. The company declined to comment on the plans but news conferences are planned in Alzey, where sources say the plant will be built, and Berlin on Friday. Other people familiar with the plans told Reuters that at least 1,000 jobs would be created. Eli Lilly said it would unveil "far-reaching investment plans" at Friday's news conference, which will be attended by Germany's economy and health ministers. Mounjaro's success helped Lilly post a 37% gain in third-quarter revenues to $9.5 billion, topping Wall Street estimates.

Persons: Eli Lilly, Mike Segar, Mounjaro, TSMC, Lilly's, Lilly, Rene Wagner, Klaus Lauer, Andreas Rinke, Ludwig Burger, Thomas Escritt, Madeline Chambers, Miranda Murray, Christina Fincher Organizations: Company, REUTERS, Basf, Reuters, BASF, U.S ., U.S, Intel, European Union, Novo Nordisk, U.S . Food, Drug Administration, Thomson Locations: Branchburg , New Jersey, BERLIN, Germany, Alzey, Berlin, U.S, Ukraine, European, Indianapolis, Danish, Eisai

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File Photo Acquire Licensing RightsBERLIN, Nov 15 (Reuters) - U.S. pharma company Eli Lilly (LLY.N) plans an investment in the single-digit billion dollar range in a new plant in western Germany, people familiar with the matter told Reuters after the company called a news conference for Friday. Eli Lilly said it would unveil "far-reaching investment plans" at Friday's news conference, which will be attended by Germany's economy and health ministers. Mounjaro's success helped Lilly post a 37% gain in third-quarter revenues to $9.5 billion, topping Wall Street estimates. The group's market value has ballooned to around $580 billion, up more than 65% so far this year.

Persons: Eli Lilly, Mike Segar, Mounjaro, TSMC, Lilly's, Lilly, Rene Wagner, Klaus Lauer, Ludwig Burger, Thomas Escritt, Chizu Nomiyama, Jane Merriman Organizations: Company, REUTERS, Rights, . pharma, Reuters, U.S ., U.S, Intel, European Union, Novo Nordisk, U.S . Food, Drug Administration, Thomson Locations: Branchburg , New Jersey, Germany, Rhineland, Palatinate, U.S, Ukraine, European, Indianapolis, Danish, Eisai

☆ Biogen cuts annual profit forecast on persistent higher costs
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 8 (Reuters) - Biogen (BIIB.O) cut its annual profit forecast below Wall Street expectations on Wednesday, on rising costs related to the recent acquisition of rare disease drugmaker Reata Pharmaceuticals and the launch of its Alzheimer's treatment Leqembi. Biogen is banking on the success of Leqembi and tuck-in deals like its recent $6.5 billion buyout of Reata Pharmaceuticals to grow its revenue. The drugmaker expects full-year adjusted profit per share in the range of $14.50 to $15.00 compared with $15 to $16 forecast previously. On an adjusted basis, Biogen earned $4.36 per share, beating analysts' average estimate of $3.97, according to LSEG data. Reporting by Mariam Sunny and Bhanvi Satija in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Eisai, Christopher Viehbacher, Biogen, Mariam Sunny, Bhanvi, Arun Koyyur Organizations: REUTERS, Pharmaceuticals, Reata Pharmaceuticals, Thomson Locations: Bengaluru

The Alzheimer's drug LEQEMBI is seen in this undated handout image obtained by Reuters on January 20, 2023. Eisai/Handout via REUTERS/File Photo Acquire Licensing RightsBOSTON, Oct 25 (Reuters) - An injected version of Eisai (4523.T) and Biogen's (BIIB.O) Alzheimer's drug Leqembi works as well as the current intravenous version at removing toxic brain plaques, according to an analysis presented by Eisai on Wednesday. The Japanese drugmaker's review compared data for 72 patients with early Alzheimer's given Leqembi by subcutaneous injection to prior pivotal trial results from 898 patients who received the drug by infusion. Blood concentration levels of the drug were 11% higher with subcutaneous Leqembi than the IV version. Roll-out of IV Leqembi, which has an annual list price of $26,500, has been slow.

Persons: Eisai, Leqembi, ”, Eric Reiman, Priya Singhal, Biogen, Michael Irizarry, Alzheimer's, Julie Steenhuysen, Deena Beasley, Bill Berkrot, Leslie Adler Organizations: Reuters, REUTERS, Rights, Banner Alzheimer's Institute, ARIA, Thomson Locations: Handout, Boston, Los Angeles

☆ More convenient form of breakthrough Alzheimer's drug Leqembi shows promising results in study
▼ + stars: | 2023-10-25 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Eisai on Wednesday said an injectable version of the Alzheimer's drug Leqembi showed promising initial results in a clinical trial, potentially paving the way for a new and more convenient option for administering the antibody treatment. Eisai and Biogen said in a release that they plan to apply for U.S. approval of subcutaneous Leqembi by the end of March. Eisai presented the preliminary results, from an extension to a late-stage trial that supported the approval of intravenous Leqembi, at the Clinical Trials on Alzheimer's Disease conference in Boston. The study specifically showed that the injectable form of Leqembi removed 14% more plaque than the approved intravenous formulation. Blood concentration levels of the drug were 11% higher with subcutaneous Leqembi than the other version.

Persons: Eisai, Leqembi, Biogen, – Organizations: Eisai, ARIA, Alzheimer's Association Locations: U.S, Boston

☆ Blood tests needed for widespread Alzheimer's diagnosis on the way
▼ + stars: | 2023-10-11 | by ( Deena Beasley | ) www.reuters.com time to read: +6 min

Several Alzheimer's blood tests are in the works – and one is already being sold to consumers – but none have been established as accurate, formally approved by regulators or reimbursed by insurers. Researchers have been working for years on blood tests for Alzheimer's that can replicate these diagnostic tools. The need for blood tests has become more pressing since the FDA approved Leqembi in July. Accurate blood tests are expected to help identify which dementia patients actually have Alzheimer’s, the most common but not the only cause of dementia. "When there are widely available, scalable, sensitive and specific blood tests it will be an absolute game changer for Alzheimer's patients."

Persons: Denis Balibouse, Eli Lilly, Dr, Sarah Kremen, Eliezer Masliah, Eisai, Michael Irizarry, Roche, Bruce Jordan, Russ Paulsen, Deena Beasley, Caroline Humer, Bill Berkrot Organizations: Memory Centre, of Readaptation, University Hospital, REUTERS, FDA, Sinai Medical Center, Wednesday, Quest Diagnostics, National Institute, Aging, U.S . National Institutes of Health, C2N Diagnostics, Roche Diagnostics, Alzheimer's Association, RAND, Thomson Locations: Geneva, Switzerland, Leqembi, Eisai, Los Angeles, U.S

☆ Down syndrome families' fight for access to Alzheimer’s trials, treatments
▼ + stars: | 2023-10-10 | by ( Julie Steenhuysen | ) www.reuters.com time to read: +9 min

In an extended portion of Eisai’s main Leqembi trial, CAA was associated with one death. 'THE DIGNITY OF RISK'Hillerstrom said the groups are "very strongly" lobbying Eisai and Lilly to conduct the safety trials in Down syndrome, and said he has been meeting with the companies to push them to design such trials. Lilly declined to comment on whether it is considering either a safety trial or taking part in that study. An Eisai spokeswoman said the company "has no immediate plans" to conduct clinical trials of Leqembi in people with Down syndrome. The company is collaborating with LuMind in a study gathering data on how Alzheimer's manifests in people with Down syndrome.

Persons: Oskar Hillerstrom, Lianor, Hampus, Brian Snyder, Lianor da Cunha, Oskar, de Oeiras, Teresa, Oskar’s, Hampus Hillerstrom, Eli Lilly's, LuMind, Hillerstrom, Lilly, Emily Largent, Beau Ances, Louis, I've, Ances, I'm, Michael Rafii, William Mobley, Mobley, Dawn Brooks, donanemab, Margot Rhondeau, Hannah, Julie Steenhuysen, Caroline Humer, Bill Berkrot Organizations: REUTERS, Rights, Reuters, CAA, University of Pennsylvania Perelman School of Medicine, Medicare, U.S . Food, Drug Administration, Washington University, National Institute, Aging, University of Southern, UC San Diego School of Medicine, LuMind, Syndrome, Thomson Locations: Lexington , Massachusetts, U.S, Santo, Portugal, United States, St, University of Southern California

☆ The market is 'at a level where we have to do some buying,' Jim Cramer says
▼ + stars: | 2023-09-28 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. But Jim Cramer said Thursday that he expects yields to peak soon, which should bolster the stock market. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jim, Stanley Black, Decker, Mizuho, Jim Cramer's Organizations: CNBC, Treasury, Procter & Gamble, Broadcom, GE HealthCare Mizuho, GE HealthCare, Mizuho, Costco, TJX, Club, Costco Wholesale

TOKYO (AP) — Japan's health ministry has approved Leqembi, a drug for Alzheimer’s disease that was jointly developed by Japanese and U.S. pharmaceutical companies. It's the first drug for treatment of the disease in a country with a rapidly aging population. Developed by Japanese drugmaker Eisai Co. and U.S. biotechnology firm Biogen Inc., the drug's approval in Japan comes two months after it was endorsed by the U.S. Food and Drug Administration. Eisai said it will conduct a post-marketing special use survey in all patients administered the drug until enough data is collected from unspecified number of patients under Japanese health ministry procedures. Eisai is committed to delivering Leqembi to people who need it and their families “as a new treatment,” said Haruo Naito, the company’s CEO.

Persons: Fumio Kishida, Kishida, Eisai, Leqembi, ”, Haruo Naito Organizations: TOKYO, Biogen Inc, U.S . Food, Drug Administration, Kyodo Locations: Japan

☆ Insight: Promising new Alzheimer's drugs may benefit whites more than Blacks
▼ + stars: | 2023-07-31 | by ( Julie Steenhuysen | ) www.reuters.com time to read: +11 min

The company told Reuters that 49% of Black volunteers did not meet the trial's amyloid threshold requirements compared to 22% for whites and 55% for Hispanics. "Is it because MCI (mild cognitive impairment) or early dementia type-symptoms in Blacks are caused by other reasons more so than Alzheimer's?" In 96 dementia trials from 2000-2017, diverse populations only made up around 11% of enrollment, according to a 2018 study. Among Black people who died of Alzheimer's, their dementia was more likely to result from multiple causes, such as vascular disease. "Is it that it's not Alzheimer's disease?

Persons: Barrington, Vickie Riley, Charlie, Harriet Shaffer, Barrington Riley, –, Eli Lilly, Lilly, Crystal Glover, Eisai, Ivan Cheung, Cheung, Shobha, Biogen, Mark Mintun, Alzheimer's, Dr Lisa Barnes, Barnes, Joshua Grill, we're, Reisa Sperling, Brigham, Julie Steenhuysen, Caroline Humer, Suzanne Goldenberg, Daniel Flynn Organizations: Emory University Brain Health, Americans, Reuters, Prospective Black, Rush, Disease Research, and Drug Administration, FDA, Black, MCI, National Institutes of Health, Rush Center, University of California, Women's Hospital, Thomson Locations: Atlanta , Georgia, U.S, Chicago, Tokyo, Irvine, United States

☆ Quest Diagnostics launches Alzheimer's blood test for consumers
▼ + stars: | 2023-07-31 | by ( Julie Steenhuysen | ) www.reuters.com time to read: +2 min

CHICAGO, July 31 (Reuters) - Quest Diagnostics (DGX.N) on Monday launched the first direct-to-consumer blood test to detect abnormal levels of beta amyloid, a key Alzheimer's protein which can appear years before dementia symptoms arise. The $399 test, called AD-Detect, uses the same technology as a blood test the company launched for use by doctors in early 2022. Users must first pay for the test on Quest's website. Quest will then arrange for an appointment with a telemedicine doctor to order it on their behalf. Quest's lab-developed test, created and performed in a single laboratory, has not undergone any FDA review.

Persons: Michael Racke, Biogen, Eli Lilly, Racke, Julie Steenhuysen, Richard Chang Organizations: Quest Diagnostics, Monday, U.S . Food, Drug Administration, Thomson Locations: Eisai, Alzheimer's

☆ These health-care companies see opportunity ahead from Alzheimer's drug approval
▼ + stars: | 2023-07-28 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +5 min

"On the size of the opportunity, I think, it's a little too early to say," said GE Healthcare CEO Peter Arduini. GEHC YTD mountain GE Healthcare shares are up 31% year to date. So what's the takeaway for GE Healthcare, Quest and others in the diagnostics space? Zimmerman reiterated a neutral rating on GE Healthcare on Wednesday, saying it was fairly valued relative to its peers. Both stocks have had a down week, but GE Healthcare shares are up 31% in 2023.

Persons: Peter Arduini, it's, Gordon Haskett, Don Bilson, Bilson, Eli Lilly, Ryan Zimmerman, Zimmerman, FactSet Organizations: GE Healthcare, Quest Diagnostics, Drug Administration, Biogen, FDA, ARIA, Quest Locations: U.S

July 28 (Reuters) - Biogen (BIIB.O) agreed to buy rare disease drugmaker Reata Pharmaceuticals (RETA.O) for nearly $6.5 billion, the first large acquisition under new CEO Christopher Viehbacher as he seeks to return the drugmaker to growth. Through the deal, Biogen said it will gain Texas-based Reata's recently approved drug Skyclarys to treat a rare genetic disorder that causes progressive damage to the nervous system. It already makes Spinraza, a treatment for the rare muscle-wasting disorder called spinal muscular atrophy, and a treatment for a rare type of amyotrophic lateral sclerosis. Biogen said it will pay Reata $172.50 per share in cash, which represents a 58.9% premium to the stock's last closing price. Reuters GraphicsShares of Reata surged nearly 52% to $164.76 in early trading, while Biogen's shares fell marginally to $261.14.

Persons: Christopher Viehbacher, Viehbacher, Biogen, Eisai, Baird, Brian Skorney, Manas Mishra, Bhanvi, Shinjini Organizations: Pharmaceuticals, Reuters, Thomson Locations: Texas, United States, Bengaluru

☆ Eli Lilly expects FDA decision on Alzheimer's treatment donanemab by the end of the year
▼ + stars: | 2023-07-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Eli Lilly on Monday said it applied for full U.S. Food and Drug Administration approval of its Alzheimer's treatment, donanemab, and expects the agency to make a decision by the end of the year. "The earlier you begin to use the drug perhaps the more slowing that can be," Eli Lilly CEO David Ricks said in an interview on CNBC's "Squawk on the Street" on Monday. Eli Lilly is among the pharmaceutical companies racing to market new treatments for the disease after Eisai and Biogen's drug Leqembi won FDA approval this month. The agency's signoff on Leqembi was a milestone in the treatment of Alzheimer's, even though the drug and donanemab aren't cures. An FDA approval of Eli Lilly's donanemab would expand the treatment options for the more than 6 million Americans of all ages who have Alzheimer's, the fifth-leading cause of death for adults over 65.

Persons: Eli Lilly, Monday, David Ricks, Leqembi, Eli Lilly's donanemab, Ricks Organizations: U.S, Food, Drug, Medicare, Services, CNBC Locations: Leqembi

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