By Dhirendra Tripathi
Investing.com – Shares of Eli Lilly (NYSE:), which has a possible drug for Alzheimer’s awaiting FDA approval, fell greater than 4% Friday amid mounting criticism over the regulator’s approval of rival Biogen’s (NASDAQ:) ‘aduhelm’ for therapy of the deadly illness.
With the controversy getting additional fueled by Biogen’s $56,000 tag for the annual course of the drugs, there are fears that FDA’s approval of Lilly’s drug could also be delayed.
Monday (NASDAQ:), Biogen’s aduhelm grew to become the primary drug in 18 years to safe Food and Drug Administration’s nod for therapy of sufferers affected by the neurodegenerative illness.
The FDA has been accused of ignoring the recommendation of its personal exterior advisors, who stated Biogen didn’t present sufficient proof of scientific profit over the prevailing prescriptions. Three of the advisory panel’s members have resigned in protest since Monday’s resolution by the regulator.
Lilly’s donanemab is a monoclonal antibody and has accomplished phase-2 trials.