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Eli Lilly and Company (LLY) - free report >>
Pacira BioSciences, Inc. (PCRX) - free report >>
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Eli Lilly (LLY) Gets Favorable CHMP Opinion for Olaratumab
Eli Lilly and Company (LLY - Free Report) announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion for a conditional marketing authorization of olaratumab in the treatment of advanced soft tissue sarcoma (STS).
Eli Lilly is looking to get olaratumab approved, in combination with doxorubicin, for the treatment of adults with advanced STS, not amenable to curative treatment with radiotherapy or surgery and who have not been previously treated with doxorubicin.
Note that the European Commission (EC) generally takes the CHMP’s opinion into account while reviewing drug applications but is not bound to abide by the same. A final decision from the EC should be out within the next three months. The product will be marketed under the trade name Lartruvo, upon approval.
The submission of a Marketing Authorisation Application (MAA) in the EU was based on data from the phase II JGDG study on olaratumab. However, the conditional marketing authorization requires Eli Lilly to provide results from an ongoing phase III study, ANNOUNCE.
We remind investor that olaratumab is also under review in the U.S. The FDA has granted Priority Review status for the candidate.
Olaratumab enjoys Orphan Drug status for the treatment of STS both in the U.S. and the EU. The candidate also has Breakthrough Therapy and Fast Track designation in the U.S.
LILLY ELI & CO Price
LILLY ELI & CO Price | LILLY ELI & CO Quote
According to information provided by the company, 23,000 people have been estimated to be diagnosed with STS in the EU in 2016.
Eli Lilly currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care sector include Pacira Pharmaceuticals, Inc. (PCRX - Free Report) , Corcept Therapeutics Incorporated (CORT - Free Report) and ANI Pharmaceuticals, Inc. (ANIP - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
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