Shares of Eli Lilly and Co (NYSE:LLY) ended Friday session in red amid volatile trading. The shares closed down -0.13 points or 0.16% at $81.16 with 2.20 million shares getting traded. Post opening the session at $80.97, the shares hit an intraday low of $80.77 and an intraday high of $81.46 and the price vacillated in this range throughout the day. The company has a market cap of $89.91 billion and the numbers of outstanding shares have been calculated to be 1.10 billion shares.
Eli Lilly and Co (LLY) on Sept. 16, 2016 announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion recommending the granting of a conditional marketing authorization for olaratumab, in combination with doxorubicin, for the treatment of adults in the European Union (EU) with advanced soft tissue sarcoma (STS) not amenable to curative treatment with radiotherapy or surgery and who have not been previously treated with doxorubicin. The CHMP reviewed olaratumab under EMA’s accelerated assessment program. If approved, olaratumab will be marketed under the trade name LARTRUVO™.
This is the first regulatory step in the world towards approval for olaratumab. The CHMP positive opinion is now referred for final action to the European Commission, which grants marketing authorization in the EU. The Commission usually makes a decision on marketing authorization within two to three months of the CHMP issuing its recommendation.
“Patients with advanced soft tissue sarcoma have been seeking new treatment options that can potentially extend lives, so they can have more time with their families and loved ones,” said Richard Gaynor, M.D., senior vice president of product development and medical affairs for Lilly Oncology. “Advanced soft tissue sarcoma is a rare disease that is difficult to treat, and this milestone brings us one step closer to providing physicians in Europe with a new option that they can offer to their patients.”
Shares of Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) ended Friday session in red amid volatile trading. The shares closed down -6.47 points or -4.84% at $127.22 with 2.15 million shares getting traded. Post opening the session at $131.60, the shares hit an intraday low of $127.18 and an intraday high of $132.30 and the price vacillated in this range throughout the day. The company has a market cap of $27.15 billion and the numbers of outstanding shares have been calculated to be 224.25 million shares.
Alexion Pharmaceuticals, Inc. (ALXN) on September 23, 2016 announced that more than 1,500 employees around the world are volunteering in their respective communities as part of the Company’s first Global Day of Service. For this inaugural event, Alexion employees are partnering with local non-profit organizations to participate in service projects focused on improving health, wellness, and education in 30 of the Company’s local communities across North America, Europe, Latin America, Asia, and Australia.
“At Alexion, one of our core values is to change the world for patients suffering from devastating and rare diseases by discovering, developing, and delivering life-changing therapies,” said David Hallal, Chief Executive Officer of Alexion. “Global Day of Service demonstrates our values in action as we join together to have a lasting impact on the communities around the world where we live and work.”