Eli Lilly (LLY) has reported strong results from a clinical trial involving its new medication to treat the eczema skin condition.
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In the long-term trial, Eli Lilly’s drug showed durable results, providing relief from persistent itching for up to four years in patients with eczema. The once-monthly injection of the drug, Ebglyss, was found to help patients with moderate-to-severe dermatitis, which leads to intense itching and scratching.
The injectable treatment is aimed at adults and children 12 years and older with moderate-to-severe eczema who cannot use topical therapies. In the study, the majority of patients achieved near-complete skin clearance and itch relief with up to four years of continuous treatment, said Eli Lilly in a news release.
Eli Lilly’s Drug Pipeline
Ebglyss was also found to be safe for patients regardless of dosing frequency, and no new safety issues were observed in the clinical trial, according to Eli Lilly. The current trial will continue for another year as it seeks to look at five-year treatment results in patients.
Eli Lilly said it has submitted the latest trial data to the U.S. Food and Drug Administration (FDA). While Eli Lilly is mostly associated with its weight-loss medications, the company has a robust pipeline of drug candidates that treat diseases ranging from Alzheimer’s to cancer.
Is LLY Stock a Buy?
The stock of Eli Lilly has a consensus Strong Buy rating among 19 Wall Street analysts. That rating is based on 16 Buy, two Hold, and one Sell recommendations issued in the last three months. The average LLY price target of $1,247.38 implies 31.53% upside from current levels.
