- Tucked in its Q1 earnings release, Eli Lilly And Co LLY has scrapped its plans to seek approval for mirikizumab in psoriasis.
- The company decided not to enter the market despite the anti-IL-23p19 antibody outperforming Novartis AG’s NVS Cosentyx in a Phase 3 trial last year.
- AbbVie Inc’s ABBV anti-IL-23 antibody Skyrizi and Johnson & Johnson’s JNJ Tremfya and Stelara, which hits IL-12 and IL-23, are already approved in plaque psoriasis.
- Despite being behind the already approved anti-IL-23 drugs, Lilly moved mirikizumab into a Phase 3 program that included three psoriasis studies, including a long-term study.
- “We look forward to bringing mirikizumab to market to provide patients with an additional treatment option that has the potential to provide near-complete or complete skin clearance as measured by PASI 90 and PASI 100, with sustained results at 52 weeks,” Lilly USA president Patrik Jonsson noted when data were announced.
- The company said it would no longer submit mirikizumab for approval in psoriasis in any geography. The decision leaves mirikizumab development focused on ulcerative colitis and Crohn’s disease.
- Last month, Lilly showed mirikizumab improved clinical remission in patients with moderately to severely active ulcerative colitis who had been failed by conventional or biologic therapies.
- The company posted weaker-than-expected first-quarter earnings and cut its forecast for full-year adjusted profit due to lower demand for its COVID-19 drugs.
- Price Action: LLY shares down 2.22% at $183.07 in the market trading session the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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