INDIANAPOLIS - Eli Lilly and Company (NYSE: NYSE:LLY) has reported that its drug mirikizumab has maintained long-term remission in patients with two types of inflammatory bowel diseases, ulcerative colitis (UC) and Crohn's disease, according to Phase 3 study results. These findings were presented at the American College of Gastroenterology Annual Meeting, held from October 25-30, 2024, in Philadelphia.
Mirikizumab, an IL23p19 antagonist, selectively targets a subunit of the interleukin-23 and inhibits its interaction with the IL-23 receptor. This action is significant in reducing inflammation associated with UC and Crohn's disease, which can lead to symptoms like bowel urgency and potentially severe complications.
In the LUCENT-3 study for UC, over 80% of patients who were in remission at one year sustained clinical remission after an additional two years of treatment with mirikizumab. The drug also demonstrated long-term endoscopic remission and mucosal healing, with 79% of patients achieving corticosteroid-free clinical remission.
For Crohn's disease, the VIVID-2 long-term extension study showed that after five years, mirikizumab helped over 50% of patients maintain endoscopic remission. Clinical response rates were high, with 96% showing a response and 87% in clinical remission according to the Crohn's Disease Activity Index.
The safety profile of mirikizumab in these studies was consistent with previous findings, with 7.4% of UC patients and 8.5% of Crohn's disease patients reporting serious adverse events. A small percentage discontinued treatment due to adverse events.
Omvoh® (mirikizumab-mrkz), the commercial name for the drug, was approved by the FDA in October 2023 for the treatment of moderately to severely active UC in adults and is currently under review for Crohn's disease. It is also approved in 44 countries worldwide.
Dr. Bruce Sands, a paid consultant for Lilly, emphasized the significance of these results for patients seeking treatments that provide lasting relief from challenging symptoms.
These studies are part of a larger research program by Lilly, which includes ongoing studies of mirikizumab in combination with other treatments and as a potential therapy for other immune system disorders. The information is based on a press release statement from Eli Lilly and Company.
In other recent news, pharmaceutical giant Eli Lilly and Company is set to launch its weight-loss medication, Mounjaro, in Hong Kong, following approval from the local government. The company's drug EBGLYSS has also shown promise in improving skin conditions and reducing itchiness in patients with moderate-to-severe atopic dermatitis. On the legal front, Eli Lilly has initiated legal action against Pivotal Peptides, MangoRx, and Genesis Lifestyle Medicine of Nevada for allegedly selling counterfeit versions of its weight-loss drug Zepbound.
Leerink Partners maintained its Outperform rating on Eli Lilly shares, following news of a UK study to assess the impact of the company's drug tirzepatide on the economic strain caused by obesity. Additionally, Eli Lilly's investigational treatment for Crohn's disease, mirikizumab, achieved a higher rate of histologic response compared to ustekinumab after 52 weeks of treatment. These are the recent developments in the company's operations and products.
InvestingPro Insights
Eli Lilly's recent breakthrough with mirikizumab aligns well with its strong market position and financial performance. According to InvestingPro data, Lilly boasts a substantial market capitalization of $803.81 billion, reflecting investor confidence in the company's innovative pipeline and growth potential.
The success of mirikizumab in maintaining long-term remission for inflammatory bowel diseases could contribute significantly to Lilly's already impressive revenue growth. InvestingPro data shows that Lilly's revenue grew by 31.87% over the last twelve months, with quarterly revenue growth reaching 35.98% in Q2 2024. This robust growth trajectory is likely to be further bolstered by the FDA approval of Omvoh® for ulcerative colitis treatment.
InvestingPro Tips highlight Lilly's strong market position and financial health. One tip notes that Lilly is a "Prominent player in the Pharmaceuticals industry," which is evident from its ability to develop and bring to market innovative treatments like mirikizumab. Another tip indicates that "Net income is expected to grow this year," suggesting that the company's research and development investments, including those in mirikizumab, are likely to pay off.
Lilly's commitment to shareholder value is also noteworthy. An InvestingPro Tip reveals that the company "Has maintained dividend payments for 54 consecutive years," demonstrating long-term financial stability even as it invests heavily in drug development.
For investors seeking more comprehensive insights, InvestingPro offers 17 additional tips for Eli Lilly, providing a deeper understanding of the company's financial health and market position.
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