Lilly reports on late-stage diabetes drug studies
INDIANAPOLIS (AP) — Eli Lilly and Co.'s potential once-weekly treatment for type 2 diabetes fared better than three other drugs in lowering blood sugar levels, according to initial results from some late-stage research.
The Indianapolis drugmaker said Monday that two doses of its injectable drug dulaglutide delivered statistically superior reductions in blood sugar levels when compared to twice-daily injections of exenatide and the oral treatments metformin and sitagliptin. Lilly will present more details from the studies at scientific meetings next year and in 2014.
Lilly said it will submit the drug to regulators for approval next year. It said timing in the United States will depend on the completion of Food and Drug Administration requirements for an assessment of the drug's cardiovascular risk.
Type 2 is the most common form of diabetes, a chronic disease that occurs when the body doesn't properly produce or use the hormone insulin.
Lilly is the world's 11th largest drugmaker by annual revenue, according to 2011 rankings from drug data firm IMS Health.
Diabetes treatments represent a large slice of Lilly's product portfolio, which includes the insulins Humalog and Humulin.
Shares of Lilly fell 20 cents to $52.66 in Monday morning trading, while broader trading indexes were nearly flat.