Eli Lilly's Donanemab For Alzheimer's Hits FDA Speed Breaker, Biogen Stock Gains On Delayed Decision
Portfolio Pulse from Vandana Singh
The FDA has delayed its decision on Eli Lilly's Alzheimer's drug, donanemab, pending further review, causing Eli Lilly's stock to drop and Biogen's stock to rise due to the delay benefiting Biogen's competing drug, Leqembi.
March 08, 2024 | 1:58 pm
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POSITIVE IMPACT
Biogen's stock rose as the FDA's delay on Eli Lilly's donanemab indirectly benefits Biogen's competing Alzheimer's drug, Leqembi.
The FDA's delay in reviewing Eli Lilly's donanemab is beneficial for Biogen as it reduces immediate competitive pressure on their already approved Alzheimer's drug, Leqembi, leading to positive investor sentiment and a rise in Biogen's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Eisai Co Ltd, in partnership with Biogen, may see indirect benefits from the FDA's delay on Eli Lilly's donanemab, as it could reduce competition for their Alzheimer's drug, Leqembi.
Although not directly mentioned in terms of stock price movement, Eisai, as Biogen's partner on Leqembi, stands to benefit from reduced competition due to the FDA's delay on Eli Lilly's donanemab. This could positively influence investor sentiment towards Eisai.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
Eli Lilly's stock dropped due to the FDA delaying its decision on the company's Alzheimer's drug, donanemab.
The delay in FDA approval for donanemab is seen as a setback for Eli Lilly, potentially affecting its competitive position in the Alzheimer's treatment market and causing investor concern, leading to a decrease in stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90