Could Eli Lilly Leapfrog Biogen in This Market?
Biotech giant Biogen (NASDAQ: BIIB) shocked the investing world earlier this year when it earned regulatory approval for its Alzheimer's disease (AD) drug, Aduhelm. The nod came unexpectedly for at least two reasons. First, a panel of independent experts convened by the U.S. Food and Drug Administration (FDA) in November 2020 had strongly voted against approving the medicine, and the agency rarely goes against the wishes of these committees.
Second, Aduhelm works by reducing the buildup of a harmful protein called beta-amyloid. And while many experts believe the buildup of this protein in the brain is linked to the cognitive decline associated with AD, the science is still far from settled. Perhaps, as a result of these issues, the launch of Aduhelm has thus far been a bit of a letdown. And there are more issues for Biogen to consider. Other drugmakers are currently looking to develop better AD therapies.
One such company is Eli Lilly (NYSE: LLY), and it recently announced some exciting news on that front. Let's see what the pharma giant is up to, and what it could mean for investors.
Source Fool.com
