Eli Lilly & Co. was on track Friday to close with a greater market capitalization than Johnson & Johnson for the first time since October 1997, according to Dow Jones Market Data.
The stock LLY has been steadily rising since the release of positive data from a trial of a treatment for Alzheimer’s disease in early May, showing significant slowing of cognitive and function decline in patients with early symptomatic Alzheimer’s disease. For more, see: Eli Lilly stock jumps 5% after Alzheimer’s treatment slows disease progression in major trial
The degree of average weight reduction seen in the trial “has not been previously achieved” in similar Phase 3 trials, Dr. Jeff Emmick, senior vice president for product development at Lilly, said in a statement.
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